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Company Will Target Oil and Gas Rigs With WiMAX Services
IDT Spectrum said today that the FCC has authorized it to operate forty
six (46) WiMAX base stations in the 3.65 GHz band. IDT Corporation
(NYSE: IDT; IDT.C), IDT Spectrum’s parent company, is a
telecommunications and energy holding company engaged, through an
affiliated company, in an oil shale research and development project in
Western Colorado.
The authorization affords IDT Spectrum the opportunity to provide WiMAX
services in Texas, Louisiana and Colorado within an area that contains
approximately 350 oil rigs.
Michael Rapaport, CEO of IDT Spectrum, said that WiMAX services could
help headquarters and regional offices of oil and gas exploration and
services firms to forge cost effective, virtual connections with their
rigs and platforms in the field.
“Real-time streaming of well head data, VoIP, fax services, video
surveillance and other types of information from the rigs and platforms
could be transferred over a WiMAX network to onshore technical teams
that can monitor and analyze data from multiple platforms
simultaneously,” said Rapaport. “In the Gulf and on the mainland,
enhanced communications between the on-site crew and off-site
technicians are a key productivity driver.”
Jim Courter, CEO of IDT Corp, said that IDT was examining ways to
leverage its communications expertise to service the oil and gas
industry. “IDT continues to explore synergies between our
telecommunications and energy businesses, including our oil shale
venture in Western Colorado.”
About IDT Spectrum:
IDT Spectrum holds over 1,250 FCC licenses of fixed wireless spectrum.
These include 39 GHz licenses covering every USA City, a 28 GHz licenses
covering selected USA cities, and a nationwide 3.65 GHz license. IDT
Spectrum leases spectrum for point-to-point links, point-to-multipoint
paths and also leases big geographic areas of spectrum. Please visit our
website at www.idtspectrum.com
About IDT Corporation:
IDT
Corporation (www.idt.net)
is a multinational holding company focused on the telecommunications and
energy industries. IDT Corporation’s Class B Common Stock and Common
Stock trade on the New York Stock Exchange under the ticker symbols IDT
and IDT.C, respectively.
In this press release, all statements that are not purely about
historical facts, including, but not limited to, those with the words
“believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,”
“target” and similar expressions, are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.All
forward-looking statements and risk factors included in this document
are made as of the date hereof, based on information available to IDT as
of the date thereof, and IDT assumes no obligation to update any
forward-looking statements or risk factors.
Investor Relations:
IDT Corporation
Bill
Ulrey, 973-438-3838
or
Media Inquiries:
Synapse
PR
Gil Nielsen, 610-704-6622
