CALGARY, June 10, 2015 /CNW/ – PIDE Solutions Group Inc. (“PIDE“), a developer of virtualized compliance and operational management software for the oil and gas sector based in Calgary, Alberta has recently filed Claim in the Alberta Court of Queen’s Bench against Harvest Operations Corp., (“Harvest“) an oil and gas production company, headquartered in Calgary and which is wholly owned by the Korean National Oil Company (“KNOC“). The Claim seeks over $1.6M CDN in unpaid invoices and over $41.5M CDN in damages against Harvest arising from the bad faith termination of a software licensing agreement after the specialized regulatory compliance software supplied by PIDE revealed serious and substantial inaccuracies in Harvest’s volume and royalty reporting to the Alberta Petrinex registry. Included within the $41.5M CDN Claim are damages for Harvest’s secretive unauthorized disclosure of PIDE’s confidential information involving the design and functionality of PIDE’s DataDraw EAM, a cloud based enterprise asset management platform, to direct competitors of PIDE. Injunctive relief is further being sought for a 12 ½ month “springboard” period to restrain Harvest from purchasing software with the same or similar features as those leaked by Harvest to PIDE competitors.
SOURCE PIDE Solutions Group Inc.
Image with caption: “PIDE Solutions Group Inc. (CNW Group/PIDE Solutions Group Inc.)”. Image available at: http://photos.newswire.ca/images/download/20150610_C7069_PHOTO_EN_17861.jpg
For further information: Inquiries regarding the Claim may be directed to: Mark J. Proud, Co-founder and CEO, PIDE Solutions Group Inc., O.403-457-4576