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Odin Energy: Quarterly Report For The 3 Months Ended 30 September 2014 [Global Data Point](Global Data Point Via Acquire Media NewsEdge) Operations Galveston 307L Project (Snipe, Egret, and Sandpiper), Texas State Waters (WI 11.25%, weighted-average NRI 8.88%) Galveston 307L Project (Snipe, Egret, and Sandpiper), Texas State Waters (WI 11.25%, weighted-average NRI 8.88%) Production operations continued at the Galveston 307L project. Production for June / July / August period was 60,898 Mcf of gas and 184 Bbl of concentrate (5,426 Mcf gas and 16 Bbl of concentrate net to Odin's subsidiary, Kilgore Exploration Inc). Figures are not currently available for September. The Company is currently in discussions with the operator with respect to certain aspects of the Offshore Operating Agreements and is awaiting more detail concerning production and budget expectations. Corporate On 26 August 2014 announced that it had executed a Memorandum of understanding to enter into a joint venture agreement with TV2U Pty Ltd. In order to complete a comprehensive Due Diligence of TV2U, the Company has appointed SilikonRok Pty Ltd, a specialist Information Technology group to complete this task. TV2U technologies enables telecommunication companies and network operators to increase profitability by generating revenue through the delivery of Live and Video on Demand content to multiple consumer devices over multiple networks, on a global scale. TV2U's innovative cloud technology features real-time analytics, targeted advertising, on-the-fly content repackaging, intelligent player apps and network catch-up-tv. TV2U maximizes audience engagement through its recommendation engine driven by combining content with social networking. TV2U's revolutionary and proprietary technologies optimise network performance to improve quality and reliability of video content delivery. TV2U is able to provide a truly effective Video Content Delivery Network (VCDN) that reduces costs, improves quality and optimises network utilisation TV2U currently supplies VCDN and video IP solutions in Malaysia, Indonesia and the United States and is negotiating the expansion of its activities in all three domains. At the conclusion of this review, Odin will be in a position to announce the most appropriate direction for commercialisation of TV2U, with the intention of offering Odin shareholders a prioritisation where possible. The board of directors of Odin acknowledge that any significant change of direction and consolidation of capital would require compliance with ASX Listing rules and approval by shareholders. Odin remains committed to their core business of energy exploration and production both in the USA and other arenas (c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info). |