A nano-satellite

Burleson quits oil and gas assets to focus on satellites

Burleson Energy has cleared the decks of their historic oil and gas assets in the USA to focus on their exciting new nano-satellite play out of Israel.

Wholly owned Burleson subsidiary Burleson Energy General LLC has entered into an agreement with AKG Energy L.P for the sale of its oil and gas assets located in the United States for a cash consideration of AUD$43,500.

The company will now focus on the acquisition of UK registered Sky and Space Global Ltd operated by three highly experienced Israeli satellite experts.

The CEO, Mr. Meir Moalem is a former Israeli jet fighter pilot who ended up leading the MEIDEX space research experiment on Space Shuttle Columbia as the project manager for Israel's first astronaut flight.

The CTO, Mr. Meidad Pariente is a former AMOS-1 Israeli communications satellite operator and Deputy Mission Manager for the AMOS-2 satellite and he was the Chief Systems Engineer for the AMOS-3 satellite which successfully launched in 2008. Mr Pariente, a nano-satellite expert also led a team of Israeli engineers and scientists designing the VENUS project, a joint Israeli-French hyper spectral satellite.

Maya Glickman, the COO of SSG, was a Senior Satellite Engineer working on communications satellites with Israel Aerospace Industries. Ms Glickman was part of the AMOS-3 satellite development team and led the end-of-life mission team for the AMOS-1 satellite.

Sky and Space Global are seeking to lever the significant satellite and space experience of its three principles to create its own satellite telecommunications network utilizing “nano-satellites.”

Nano-satellites are a fraction of the cost and size of traditional satellites and they are significantly cheaper to deploy into space.

They are operated in clusters of around 200 units and are capable of providing phone and messaging services for users around the globe that otherwise may not have access to any form of telecommunications.

Target markets include shipping, airlines, third world countries and individuals in outback and remote locations. 

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BNiQ Disclaimer