Open Range Petroleum is a production oil company focused on oil production in the Bakken and Three Forks Formations of the Williston Basin. Their senior management team has over thirty years experience in every discipline applicable to a production oil company. Their business model is based on the oil resources of the Williston Basin and a long term bullish view on the price of oil. Open Range Petroleum create value by acquiring mineral rights and utilizing industry leading techniques for drilling, completions and production. Open Range Petroleum currently hold a net acreage of 8,000 acres and operate our joint ventures holding 11,000 acres. Their 2011 objectives are to substantially increase our net acreage position in strategic areas, increase oil production and enhance our financial...
Entrepreneurs have to venture beyond Singapore for business opportunities and, even then, “markets around Singapore are not homogenous enough to create scale”, he said. In comparison, US companies enjoy economies of scale to build up to a significant size before they branch out into the rest of the world. This means they get a much larger revenue pool, he explained. Mr Mike Ang, president of the Association of Telecommunications Industry of Singapore, felt that Singapore “just does not possess the eco-system that Silicon Valley has” to nurture billionaires. He observes that Singapore firms prefer to buy products and services from big overseas firms such as HP, Microsoft and IBM, instead of supporting small, home-grown start-ups. Furthermore, Singaporeans are not as receptive to new technology such as Facebook when compared to Americans, he said. It means that if someone wants to launch a new product, he needs to venture into the US to gain credibility, he added. The issue of young billionaires comes in the wake of last Thursday’s news that Mr Eduardo Saverin, 28, the co-founder of Facebook, has been residing in Singapore for the past 11/2 years. San Francisco-based technology site TechCrunch said he had set up an office here for his software-development company Anideo last year, and is said to be providing funding to Facebook game developers. In the film The Social Network, the Brazilian-born technopreneur is portrayed by British actor Andrew Garfield. He owns a 5 per cent share of Facebook while his Harvard schoolmate, Mr Zuckerberg, owns 24 per cent. The former is said to be a regular patron of Singapore’s party hot spots, such...
“The only way to achieve the impossible is to believe it’s possible.” – from “Alice in Wonderland” Eduardo Saverin – Facebook legend living in Singapore Tham Yuen-C Straits Times Site’s co-founder set up a software development firm here last year, but has maintained a low profile. The other Facebook legend – the one who fell out with co-founder Mark Zuckerberg – has set up a software development company in Singapore. Mr Zuckerberg is chief executive officer of the world’s most popular social networking site. His former collaborator, Mr Eduardo Saverin, 28, is one of three people behind Web technologies company Anideo, with offices in Singapore and Miami, Florida. The Brazil-born billionaire is said to have been living in Singapore since last year, and the Singapore outfit of his firm was registered under his name in October last year. His two partners are fellow Harvard University graduates, one of whom had worked with him on a job search site in 2005. Since technology site TechCrunch posted a blog last Thursday about him being in Singapore, netizens – here and abroad – have been speculating about his whereabouts. A film, The Social Network, based on the story of the two co-founders, is currently showing in cinemas around the world. Mr Saverin is portrayed in the movie as the more affable and charming character, in contrast to its depiction of Mr Zuckerberg as a socially inept geek who is also the more cunning of the two. Mr Saverin was Mr Zuckerberg’s partner in 2004 when, as Harvard students, they started thefacebook.com, a website that evolved into Facebook. But the duo fell out...
If you give your product or service away to would-be customers, you set a dangerous precedent that you’re willing to give it away forever. As I’ve said before: if a customer isn’t paying for your product in some way, shape, or form, you’re not running a business. Getting a customer to use your product for free only proves a customer’s willingness to pay nothing. True value is established when a customer forks over a dollar (or lots of them) for your product. How could Netscape invent one of the most popular and widely adopted software applications in history and at the same time never make any real money at it? Simple – they established the price at “zero.” Getting customers to go from “free” to “paid” is extremely difficult to do. Companies establish the value of their product mostly from the price they set for their product. Does a Bentley Continental GT really cost $160,000 to build? No, but if Bentley sold the Continental for $20,000 there’s no way they would be able to change the price to $160,000 and hold the same amount of value in consumers’ eyes. Going from “free” to “paid” works the same way. Giving a product away for free is an easy way to confuse the concept of “people really like it” with “people really like it and they are willing to pay me for it.” People should pay for products that have value and creating a business that ignores this is digging your own grave. Give them a taste, maybe, but if they want the whole entrée (and if you want to stay...
Zan did a great job of comparing several payment gateways in Singapore. In summary, below are what i found to be important. Available Options in Singapore: Paypal Website Payment Standard Paypal Payflow Gateway E-Nets E-Clearing World Pay Payment Express Cybersource 2c2p Cost Comparison World Pay Enets Paypal Payment express Set up fees S$250 S$200 Free S$150 Annual fees S$650 S$450 Free S$600 Transaction fees 4.50% 4.50% 3.4% + S$0.50 100 free transactions, S$0.50 per transaction thereafter Final Decision? Eventually, we decided to use Paypal Website Payment Standard. Why? First, the cost is the lowest. There are no set up fees or monthly fees. You only pay when there’re purchases. Second, the process is easy to set up. All I needed is a credit card. Applying for a merchant account at the banks is a hassle in comparison. There is processing time, and added charges for the set up can be quite...
The group at Yahoo! that I came from was using Hadoop for data analytics and data warehousing. We had something like 100,000 web servers across the world, and once we collected data from across all these servers, we dumped it into Hadoop, which became the place where we stored all of the data, instead of traditional network storage. Our reasoning for doing that was a matter of economics, given the quantity of hardware. Hadoop lets us scalably process that data, clean it up, and normalize it so we could pass it along to the systems that need it. Hadoop is getting very wide adoption in the data warehousing and business intelligence domains. One of the biggest uses within Yahoo! right now is dealing with all of the log information from servers. Analyzing that information allows for better spam filtering, ad targeting, content targeting, A/B testing for new features, et cetera. It’s not web-specific. For example, everybody does data warehousing, and we see very strong adoption there. Separate from that, your example of oil companies is a very good one, as is the financial sector. Right now, we do have a couple of very large financial institutions working with us on these exact problems, taking huge amounts of data from domains like credit card processing and building predictive models for fraud that enable better decisions, for example, about whether to block or allow a given transaction. In the stock market, Hadoop is being used to do simulations that help predict option pricing and related problems. That’s another very healthy market that we’ve seen growth in. via howsoftwareisbuilt.com Knowing that Yahoo...
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