Geospatial Corporation Enters Into Definitive Agreement to Acquire ShaleNavigator
Edward Camp Joins Geospatial as Team Lead/ShaleNavigator
PITTSBURGH, PA--(Marketwired - September 18, 2014) - Geospatial Corporation (GSPH) announced today that it has entered into a definitive agreement to acquire ShaleNavigator. ShaleNavigator is the premier shale oil and gas informational SaaS platform covering the rapidly growing Marcellus and Utica unconventional shale plays. Geospatial also announced that it has hired Edward Camp, the Founder of ShaleNavigator, to join Geospatial Corporation as Team Lead/ShaleNavigator. The transaction is scheduled to close on October 17, 2014. No financial terms were provided.
ShaleNavigator is a cloud-based, interactive mapping software product containing over 20 map layers including current permits, well results, lease offers, available property, and pipelines in US Shale oil & gas plays. ShaleNavigator offers map query, drawing, and saving tools, and a newsboard that allows subscribers to zoom to breaking news.
ShaleNavigator currently serves a diversified mass audience comprised of oil and gas pipeline companies, property owners, municipalities, service providers to oil and gas, including engineering, construction, and housing; financial service providers, such as regional banks, wealth managers, investors, and appraisers; local, state and Federal government entities, colleges and universities.
Mark Smith, Geospatial's CEO stated, "We are so excited to add Ed Camp and ShaleNavigator to the Geospatial family. Ed has done a fabulous job of creating ShaleNavigator and growing it into the premier oil and gas website providing valuable insight and information to critical players within the Marcellus and Utica regions. The combination of Ed's vast mapping and information management experience and GeoUnderground, our cloud based GIS portal provides Geospatial with rich data and critical information concerning all aspects of the nation's oil and gas industry."
Camp went on to state, "I'm delighted to bring ShaleNavigator into the Geospatial family and join such a positive and vibrant management team. With Geospatial's talent and resources we'll have what we need to scale ShaleNavigator, providing critical information to the booming oil and gas industry across all US shale plays."
About Geospatial Corporation
Geospatial Corporation utilizes integrated technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data allowing Geospatial to create accurate (3D) three-dimensional digital maps and models of underground infrastructure. Our website is www.GeospatialCorporation.com. The Company manages this critical infrastructure data on its Cloud-Based GIS Portal called GeoUnderground, our proprietary GIS platform custom designed around the Google Maps API and Google Maps Engine. (www.GeoUnderground.com).
GeoUnderground is the company's powerful Cloud-Based (GIS) geographic information system database that enables users to view and utilize this 3D pipeline mapping information securely from any desktop or mobile device. GeoUnderground seamlessly integrates with Geospatial's technologies gathering underground, underwater or aboveground geo-referenced digital information of all types of infrastructure.
Licensed users, for the first time, have available to them a suite of technologies allowing them to collect data and create highly accurate 3D maps and models of both above-ground and below-ground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the Cloud.
Geospatial provides integrated data acquisition technologies that accurately locate and map underground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground Cloud-Based Portal.
GeoUnderground, designed around Google Maps Engine and the Google Maps API, is Geospatial's cloud-based GIS platform that provides clients with a total solution to their underground asset management needs.
About Ed Camp, Founder of ShaleNavigator (www.ShaleNavigator.com)
Mr. Edward Camp has 15+ years experience in Geospatial science, and prior to joining the Geospatial Team was the owner of Select Analytics, LLC a consulting company serving real estate development, oil and gas and engineering industries, including a recent engagement with Hess Exploration and Development (E&P) operations in the Marcellus Shale. His expertise in oil and gas GIS system development originated with a Fellowship from the National Oceanic and Atmospheric Administration (NOAA) to build a Geographic Information System (GIS) to assess impacts of oil and gas development in the Louisiana Coastal Zone following his graduate studies. Ed is a member of the Association of American Geographers (AAG) and has been elected to membership to the Society of Petroleum Engineers (SPE).
Forward Looking Statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements, if any, are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings or as a result of other factors.