SOURCE: Smart Ventures, Inc.
HOUSTON, TX--(Marketwired - Feb 25, 2014) - Smart Ventures, Inc. (OTC Pink: SMVR) is pleased to announce that it has posted strong earnings in its annual report as the 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 $500,000 revenue and assets more than $1.2 Million. The Company is projecting to more than double its revenue through expansion of services in 2014. 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 has become a subsidiary of Smart Ventures. 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 advisor to Petrohawk, K&M Technology Group, Chevron, BP, ConocoPhillips and now Total Oil. Significant successes this year alone 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.
Roger Smith, CEO of Smart Ventures states "The Sanday Corporation acquisition adds significant value for our shareholders as a revenue generating operating company, which will enhance the company cash flow and balance sheet".
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