HOUSTON, TX – March 5, 2014 -- SMART VENTURES, INC. (OTC Pink: SMVR) Smart Ventures is pleased to announce that an independent analyst report has been released by Phoenix Group Capital Markets Limited. The analyst report opines the following: Smart Ventures announced that it had posted strong earnings in its annual report in which its financials have been consolidated as a result of its acquisition of The Sanday Corporation an income producing oilfield Services Company engaged in engineering consulting to oil majors. The Company posted more than $539,000 revenue and assets of more than $1.2 Million. The Sanday Corporation through its contract with Merlin ERD, which is now the world leader in Extended Reach Drilling, has been involved in many successes of projects worldwide.
The Sanday Corporation, which became a subsidiary of Smart Ventures after its acquisition in January 2014. Roger A.T Smith, CEO of The Sanday Corporation has over 30 years oil and gas drilling, completion, work over and production experience with a B.A. in Mechanical Engineering. Mr. Smith has been an drilling advisor to Petrohawk, Chevron, BP, ConocoPhillips and Total Oil.
Significant successes for 2013, where The Sanday Corporation completed a complicated extended reach well in the North Sea, U.K. for Total Oil, on its Alwyn North Platform, 400 KM North Offshore Aberdeen. The Sanday Corporation then went on to complete another successful project for Centrica U.K. in the Southern Sector of the North Sea, U.K. from a Jack up drilling rig, this project was successful and brought in under budget. The Sanday Corporation then went on to yet another successful completion this year just recently in the Adriatic Sea, offshore Italy, also from a Jack Up Rig, two wells were brought in under budget for Edison. Lastly Sanday completed a project for BP in Azerbaijan, offshore Baku, in the Caspian sea, from the Platform East Azeri. A successful well was made.
Merlin contracted Sanday Corp to oversee the operation on the third side track well to overcome some problems in the well, which were overcome after utilizing the ERD procedures for drilling the well. Sanday Corp was also contracted for a major project within the Murcheson National Park in Uganda, once again for Total Uganda, a consortium of also Tullow Oil and CNOOC which is 33.3% for each this is a project which is under constant scrutiny as the Ugandan Government have given permission for drilling a test/appraisal well within its famous National Park, so many environmental issues exist and protecting the wildlife is at the top of our list as a safe efficient responsible engineering operator.
Smart Ventures has bright plans for expanding its oilfield services to transportation through acquisition of a fleet of trucks and is currently exploring pipeline asset acquisitions for its midstream growth plan. The company is currently planning a capital raise through private placement and possibly Reg. A or S1 registered offering. The company has been in consultation with its legal counsel to develop the best strategy for its growth plans in terms of public capital raise. Since becoming public the company has been approached by many institutional investors interested in funding the company for growth. The company is carefully considering who it should partner with to ensure the company business plan is successful.
The company has indicated that it plans to become a fully reporting company in 2014 and up list to the NASDAQ by year end providing it meets the requirements to do so. We have had an opportunity to review the company's financial reports and tax returns which reflect a stable growth company that is profitable. The financials of the company may be reviewed in its entirety at www.otcmarkets.com.
The complete analyst report with technical analysis can be viewed at www.phoenixgroupcap.co.uk or click this link https://www.dropbox.com/sh/bui5f0a8vtefw7x/ud7zalbWt0
ABOUT SMART VENTURES
Smart Ventures is an independent energy company engaged in engineering extended reach drilling services, acquisition, development, production, and exploration of oil, gas and minerals internationally. To learn more about the Company, visit: www.sandaydrilling.com
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This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under "Risk Factors" and "Our Business." Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Media Relations: Roger Smith
Contact: (832) 717-4412
SOURCE: Smart Ventures, Inc.