$QEDN MANCHESTER, N.H., Jan. 29, 2013 /PRNewswire via COMTEX/ -- QED Connect, Inc. ("QED") (OTC Pink Sheets: QEDN) today announced that it has signed a definitive agreement to acquire Kuma Oil which owns oil and gas rights in the Russian territory of Perm Krai.

Kuma's oil reserves were qualified in a study by Miller Lents, a Houston-based petroleum consulting firm and subsequently verified to have 105,000,000 barrels of proven and probable reserves. Fully developed, these reserves have an estimated Net Asset Value (NAV) of approximately $525 million from the combination of Proven and Proven Undeveloped Reserves.