OilEx Live Pilot Initiates Internal Market Testing Good market activity today. Perhaps $2.00 by the end of April ?
Hunter Technology Corp: OilEx Live Pilot Initiates Internal Market Testing
Vancouver, British Columbia--(Newsfile Corp. - March 29, 2021) - Hunter Technology Corp. (TSXV: HOC) (OTCQB: HOILF) (WKN: A2QEYH) (FSE: RWPM) (ISIN: CA4457371090) ("Hunter" or the "Company") is pleased to announce that its OilEx Platform is now live for market testing.
Ahead of the execution of live pilot transactions for selected hydrocarbon producers and purchasers, targeted for the end of Q2 2021, the Company is leveraging its robust solution development progress into live market testing with senior advisers and prospective users. To ensure vigorous testing of the Platform by all participants in the hydrocarbon value chain, testing will be open to oil trading veterans, industry experts, independent producers, purchasers and brokers.
The limited release of the OilEx Platform includes five core functions of the platform:
- purchaser and producer profiles supporting effective transactions based on transparency and trust;
- an efficient listing process of transaction offers by purchasers or independent producers, including rich offer data;
- an interactive map enabling a visual representation of market data to support discovery of attractive transaction opportunities;
- a secure end-to-end encrypted communication channel between prospective purchasers and sellers supporting transaction negotiations; and
- a robust document exchange and storage function to transform the current paper trail for transactions into a structured deal document vault.
The testing will be conducted using simulated data, including crude oil type, assay, output capacity, price index and other key variable, and will be coupled with search and sorting functions. Deal terms and live chat communications will be interfaced side-by-side with executed documents for accurate and timely transaction context. Deployed to be accessible as a live solution and as an application in a cloud environment, this product version will be refined by industry critique and analyses, to improve the efficiency and integration of the platform interfaces, providing intuitive ease of use of familiar transactional requirements and features.
The live testing process will enable the Company to generate critical insights into user needs and industry requirements on a transaction specific level, building on the Company's market research and network of industry experience. The testing and subsequent feedback are critical steps to ensure product-market-fit, reduce delivery risk, and deliver the highest possible value add to Platform users. By conducting live testing with market participants, the Company will be able to ensure a better product-market fit, and will also expand a network of potential clients and users.
With this milestone, the limited release OilEx Platform has gone live ahead of schedule and the testing will further accelerate time to market for the full Platform launch.
"Bringing a product live and into the hands of real users is a critical milestone for any digital solutions company. It is superb to see our team reaching this point in such a short time, delivering for live testing a complete and robust system with significant growth potential," said Florian M Spiegl, Hunter's Chief Executive Officer.
On completion of the live testing, the Hunter product and technology teams will continue agile development of the OilEx Platform, working toward the private beta release of the Platform by mid-year and targeting initial revenue generation.
About Hunter Technology Corp.
Hunter Technology Corp. develops interactive software platforms powered by blockchain technology that digitalize and streamline physical oil trading throughout the transaction lifecycle. With its solutions, Hunter delivers more favorable economics and fair market access for all and promotes the transition towards a more environmentally and ethically responsible ecosystem. Its flagship product OilEx will connect independent oil producers, buyers, and traders in a trusted digital marketplace to optimize prices, simplify processes, improve transparency, and support a reduced carbon footprint. Through its data analytics capabilities, Hunter will offer real time supply chain management tools for tracking the origin, transhipment and processing of hydrocarbons and the environmental, social and governance (ESG) compliance during their life cycle.
ON BEHALF OF THE BOARD OF DIRECTORS
Florian M Spiegl
Chief Executive Officer
(888) 977-0970