Tuesday, March 25, 2014

Facebook to Acquire Oculus

MENLO PARK, Calif., March 25, 2014 Facebook today announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share).  The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones.
Oculus is the leader in immersive virtual reality technology and has already built strong interest among developers, having received more than 75,000 orders for development kits for the company's virtual reality headset, the Oculus Rift. While the applications for virtual reality technology beyond gaming are in their nascent stages, several industries are already experimenting with the technology, and Facebook plans to extend Oculus' existing advantage in gaming to new verticals, including communications, media and entertainment, education and other areas.  Given these broad potential applications, virtual reality technology is a strong candidate to emerge as the next social and communications platform.
"Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow," said Facebook founder and CEO, Mark Zuckerberg. "Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate."
"We are excited to work with Mark and the Facebook team to deliver the very best virtual reality platform in the world," said Brendan Iribe, co-founder and CEO of Oculus VR. "We believe virtual reality will be heavily defined by social experiences that connect people in magical, new ways. It is a transformative and disruptive technology, that enables the world to experience the impossible, and it's only just the beginning."
Oculus will maintain its headquarters in Irvine, CA, and will continue development of the Oculus Rift, its ground-breaking virtual reality platform.
The transaction is expected to close in the second quarter of 2014.
Webcast and Conference Call Information
Facebook will host a 30-minute conference call to discuss the acquisition at 3:15 P.M. PDT / 6:15 P.M. EDT today. The dial-in number for the call is (866) 751-3284 (toll free) and (973) 935-8772 (international); participants will be connected by an operator.  The live webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com. Facebook uses the website http://investor.fb.com as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Following the call, a replay will be available at the same website.  A telephonic replay will be available for one week following the conference call at (855) 859-2056 or (404) 537-3406, conference ID 18971947.
About Facebook
Facebook's mission is to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what's going on in the world, and to share and express what matters to them.
About Oculus
Founded in 2012, Oculus VR, Inc. is building a next-generation consumer virtual reality platform. The company's first product, the Oculus Rift, is a virtual reality headset that allows you to step inside a digital environment and feel as though you are truly there. The Oculus Rift provides an immersive, stereoscopic 3D view with an ultra-wide field of view and low latency head tracking that lets you look around naturally in 360 degrees. 

For more information, please visit oculus.com.
Facebook Contacts
Investors:Deborah Crawford
investor@fb.com / investor.fb.com
Press:Tucker Bounds
press@fb.com / newsroom.fb.com
Oculus Contact: media@oculusvr.com

Sunday, March 23, 2014

Initiative Supports Victims of Extreme Forms of Gender-Based Violence

 

 

 

Vital Voices Global Partnership, the Avon Foundation for Women with Avon Foundation Global Ambassador Fergie, and the U.S. Department of State Launch New Initiative

 

WASHINGTON, March 21, 2014 / The Global Partnership to End Violence Against Women, a collaboration of Vital Voices Global Partnership, the Avon Foundation for Women and the U.S. Department of State, yesterday presented a new initiative to address gender-based violence: the Gender-Based Violence Emergency Response and Protection Initiative.
In making the announcement, Vital Voices CEO Alyse Nelson said, "we are delighted to be part of this new initiative that leverages the knowledge and expertise of our global women leaders to rapidly and effectively identify and respond to the immediate needs of victims. From providing legal services to women who have suffered domestic violence, to creating viable employment opportunities for survivors of human trafficking, these leaders know their communities and they have designed solutions that restore freedom and dignity. They are bringing us closer to a world free of violence."
The Gender-Based Violence Emergency Response and Protection Initiative is a first-of-its-kind global program dedicated to assisting victims of extreme forms of gender-based violence and harmful traditional practices around the world. The Initiative takes comprehensive steps to eradicate domestic violence, sexual assault, honor crimes and other forms of gender-based violence by providing critical support to survivors.  By providing short-term emergency grants to cover medical care, emergency shelter, legal assistance, and other related costs, the program allows victims in urgent situations to access life-saving services.
"Gender-based violence is a global epidemic and an affront to humanity," said Uzra Zeya, Acting Assistant Secretary of State for Democracy, Human Rights and Labor. "It is our privilege to join in launching the GBV Initiative, a unique partnership which aims to uphold the dignity and advance the human rights of women and girls around the world."
The Initiative takes a holistic approach to addressing these crimes by creating a global gender-based violence training program for law enforcement, judges, prosecutors, government officials, and NGO advocates – The Justice Institute on Gender-Based Violence.  Over the next two years, the program will work with criminal justice professionals and service providers in India, Mexico, Nepal, South Africa and other countries to develop and provide training that promotes a victim-centered approach to holding offenders accountable for their crimes.
Avon Foundation Global Ambassador Fergie said, "The new Justice Institute on Gender-Based Violence is designed to ensure that laws achieve their promise.  It will go even further to protect women who are victims of violence and secure justice for them. I am so proud to announce this pioneering new partnership of the Avon Foundation for Women, Vital Voices and the State Department."
Cindy Dyer, Vice President for Human Rights at Vital Voices Global Partnership and a former specialized domestic and sexual violence prosecutor, stated, "we are honored to be part of these groundbreaking, comprehensive initiatives that will provide victims of gender-based violence not only with the critical services they need, but also with the justice they deserve."
Vital VoicesVital Voices Global Partnership is a leading non-governmental organization that identifies, invests in and brings visibility to extraordinary women around the world by unleashing their leadership potential to transform lives and accelerate peace and prosperity in their communities. Founded by former U.S. Secretary of State Hillary Clinton in 1997, the organization trains and mentors women leaders as agents of transformative change in economic development, human rights and political participation. The Vital Voices Global Leadership Network includes more than 14,000 leaders representing 144 countries who have trained and mentored 500,000 additional women and girls in their communities. Visit www.vitalvoices.org to learn more.
Avon Global PhilanthropyAvon is a global corporate leader in philanthropy focused on causes that matter most to women. Through 2013, Avon global philanthropy, led by the U.S.-based Avon Foundation for Women, has donated more than $957 million in more than 50 countries. Avon's funding is focused on breast cancer research and access to care through the Avon Breast Cancer Crusade, and efforts to reduce domestic and gender violence through its Speak Out Against Domestic Violence program. The company's global markets sell special products to raise awareness and funds for breast cancer and domestic violence, conduct hundreds of events for these causes, and educate women around the world through its global army of more than 6 million Avon Representatives. Visit www.avonfoundation.org to learn more.

Karyn Margolis, Avon Foundation for Women, 212 282 5666
karyn.margolis@avon.com
 

SOURCE Vital Voices Global Partnership


RELATED LINKS
http://www.vitalvoices.org

Unstoppable: Casa mia

Unstoppable: Casa mia

Unstoppable: Casa mia

Unstoppable: Casa mia

Monday, March 17, 2014

Far East Energy Announces Gas Production Surpasses 2.25 Million Per Day

 



HOUSTON,Far East Energy Corporation (OTCBB:FEEC), the U.S. listed company that operates the Shouyang Block Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People's Republic of China, confirms an ongoing increase in gas production from the Shouyang Block.  Submission of the draft Overall Development Plan (ODP) for the core production area at Shouyang is also expected in the near future.
Management is pleased to announce that, as of March 11th, production had reached 2,256,466 cubic feet per day (2,256 Mcf/d), following a period of expected steady production growth.
This is up 11% from the production figure released February 12th, and is over 3 times higher than the average 738 Mcf/d produced for the week ending November 12, 2013.  Water production for March 11th was 3,763 barrels per day, compared to 3,414 barrels of water per day on November 12, 2013.
Commenting, CEO Michael McElwrath said, "We continue to take a conservative approach to the rate of increase of production from Shouyang and are gradually allowing gas production to rise, while optimizing continued water production – a classic approach to CBM production; and thus we are very pleased that we have nevertheless seen a tripling in gas production in the past 4 months." 
In addition, following completion of the key documentation by FEEC, management expects the draft ODP for the acreage encompassing the 1H Production Area to be submitted to the National Development and Reform Commission (NDRC) within a matter of weeks.  This would be the prelude to the award of a "Road Pass" ODP potentially by as early as mid-summer, prior to eventual formal ODP approval.
McElwrath continued, "We look forward to completion of the ODP process, but would also note that we have been producing and selling gas on a pre-ODP basis since 2011 and are already seeing the combined benefits of higher gas production and approximately $9/Mcf gas price that we are now receiving."
Far East Energy Corporation
Based in Houston, Texas, with offices in Beijing, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.
Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, including that the amendment to the PSC may not be entered into or if entered into may not be on the same terms as originally agreed upon by the parties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation and drilling programs may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation, to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.


SOURCE Far East Energy Corporation