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Proper Power & Energy, Inc. (OTC:PPWE) a Tampa-based independent oil and gas exploration and production company, has announced the next stage of its Western U.S. operations. The Company met with the executives of Thrust Resources Inc. and EQ Resources Inc. in Dallas, Texas on January 20, 2011. The meeting focused on a joint venture for the Central Utah Prospect between the Companies. This was the initial meeting between Clint Brower, CEO and Chairman of EQ Resources, and Andrew Kacic, the newly named President of Proper Power & Energy Inc .
The next steps will be circulating a memorandum of understanding followed upon definitive agreements. “We look forward to expedite future discussions of both Companies working together to mutually reach our Utah objectives,” stated Andrew Kacic.
The up and down, rise and fall in gasoline and diesel prices over the last few of years shows the changes in the cost of crude oil. Those changes are decided in the global crude oil market by the worldwide need for and supply of crude oil. Weak economic conditions in the U.S. and all over the world in 2008 and into 2009 led to a weaker demand which helped knock prices down. Now, with the worldwide economic recovery, demand is rising again and is helping to catapult prices higher.
About Proper Power & Energy:
Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
Spacenet Inc., a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq:GILT), and a leading provider of broadband network solutions for business, industrial and government users, was selected to provide SkyEdge(NYSE:TM) broadband satellite terminals, deployment, operations and maintenance to support state lotteries. The multi-year contract awards from the past month include Texas and Illinois while Indiana, Iowa and Louisiana were deployed earlier in 2010. The five networks, totaling almost 33,000 lottery sites in all, benefit from SkyEdge's efficient bandwidth management, security and quality of service ideal for applications requiring high availability and uptime such as lottery and gaming networks.
Spacenet has been supporting networks for the state gaming industry for almost twenty years. The company has established the trust of lottery industry partners and state lottery agencies through an ongoing commitment to the unique needs of the industry. Spacenet optimizes the performance of lottery applications over satellite and provides VSAT solutions tailored to the specific needs of the lottery market.
"Spacenet has worked with multiple gaming industry partners for almost 20 years, and we have some of the largest revenue generating lotteries as our customers," said Spacenet CEO Andreas Georghiou. "We are focused on providing the best VSAT-based networking solutions and Total Cost of Ownership for lotteries across the continent, and look forward to serving our new customers."
Spacenet solutions support all vendor lottery terminals and applications including video based games and traditional non-video games. Its operations and technology have the capability and track record to support today's most advanced lottery applications and the flexibility to host emerging games that will provide new sources of revenue in the future.
Gilat announced previously in 2010 that it has been selected to provide VSATs for lotteries in West Africa and in North Africa.
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