Green Mountain Coffee and Keurig Bring Single-Cup Brewing to Grocery Stores Nationwide New Brewer and 12-Count Package Debut in Grocery ChannelWATERBURY, Vt.–(BUSINESS WIRE)– Keurig has ignited a revolution in coffee making as the market leader in single-cup brewing. Now, in response to feedback from its customers and consumers, Green Mountain Coffee and Keurig, divisions of Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), are providing their winning combination of single-cup brewers and patented K-Cup(r) portion packs to grocery stores across the country, just in time for the holidays.Consumers now have a unique offering from Keurig and Green Mountain Coffee in grocery stores. A new single-cup brewer from Keurig, the Classic, is available exclusively at grocery locations. In addition, Green Mountain Coffee has debuted a new and compact 12-count box of K-Cups(r), available in ten different varieties of coffee, including Fair Trade Certified(tm) and organic offerings. The 12-count packaging is specifically designed to fit on supermarket shelves.With the Keurig(r) Single-Cup Brewing System, consumers can choose their favorite variety of coffee, tea or hot cocoa in K-Cup portion packs, brew a single cup at the touch of a button, and enjoy a gourmet cup with no mess or clean-up.”Keurig and Green Mountain Coffee’s entry into the grocery channel is a win-win for both consumers and grocers,” says Larry Blanford, President and CEO of GMCR. “We’ve heard compelling feedback from consumers that they want the option to buy their K-Cups in grocery stores and purchase K-Cups in smaller packages, allowing them to try more varieties. The combination of Keurig(r) Single-Cup Brewers and Green Mountain K-Cups(r) gives consumers an economical way to bring the coffee house experience right into their homes. For grocers, tapping into this hot trend in specialty coffee invigorates their coffee aisle and gives their shoppers a wide variety of fresh, gourmet coffee selections to choose from. With this single-cup offering, our 10- and 12-ounce coffee packages, and our in-store brewing solutions, we have a complete brand proposition for our supermarket customers.”Keurig Single-Cup Brewers and Green Mountain K-Cups are helping to drive the growth of the specialty coffee category in grocery. According to IRI data (InfoScan, Total U.S. Food) for the latest 52 weeks ending October 5, 2008, initial supermarket accounts that carried Green Mountain K-Cups as part of their specialty coffee selection experienced more than twice the growth in dollar sales of the national average for the specialty coffee category. The single-cup category allows grocers to supplement their packaged coffee offerings and participate in “by-the-cup” business traditionally reserved for coffee shops.Keurig brewers and Green Mountain K-Cups are now available at over 17,000 locations, including retailers, department stores, supermarket chains and independent grocers across the country. Green Mountain Coffee’s website features a list of locations at http://www.greenmountaincoffee.com/stores(link is external) where consumers can find Keurig brewers and Green Mountain K-Cups.To support accelerated growth and enhance brand awareness, Keurig and Green Mountain Coffee are investing in a $15+ million marketing effort this holiday season, including Keurig’s first national TV advertising campaign. Other marketing initiatives include co-op advertising, promotion and merchandising support, in-store demos and direct mail programs.About Green Mountain Coffee Roasters, Inc.Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially and environmentally responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee division sells more than 100 high-quality coffee selections, including Fair Trade Certified(tm) organic coffees, under the Green Mountain Coffee(r) and Newman’s Own(r) Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com(link is external)). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup(r) portion packs for Keurig(r) Single-Cup Brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup coffee brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cups(r) through office distributors, retail and direct channels (www.Keurig.com(link is external)). K-Cups are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.
Irish oil & gas company Providence Resources has described its Avalon prospect off Ireland as ‘significant’ following a technical report for Licensing Option 16/27. The LO 16/27 is located in the central Porcupine Basin and is currently operated by Providence.Total farmed into the license in June but the change in ownership will become effective after receiving consent from the Minister of State at the Department of Communications, Climate Action and Environment.Upon receiving the consent, the LO 16/27 joint-venture will consist of Total as the operator holding 50 percent of interest, Providence with 40, and Sosina Exploration Limited holding the remaining 10 percent.Providence said on Monday that it recently provided the Petroleum Affairs Division of the Irish Government’s Department of Communications, Climate Action and Environment with its End of Year 1 LO 16/27 Technical Report which was focused on the hydrocarbon potential of the Avalon prospect, on behalf of the JV partners.According to the company, a large scale calibrated petroleum systems model over an area of 48,000 square kilometers, which included the LO 16/27 area, supports the potential of a working petroleum system in the license.It demonstrates that the Avalon prospect could potentially access a total hydrocarbon resource charge of 8.67 bbo and 12 bboe, Providence stated.In the Monday statement, the company also said: “Whilst petroleum systems modeling in emerging frontier basins have inherently high degrees of uncertainty, the results of this study are directionally very positive for the potential charging of the Avalon prospect.”“Further positive outputs from the PSM indicate that the risk of oil biodegradation in the Avalon prospect is low to moderate based on the modeled temporal variations in reservoir temperature. Also, top seal integrity for the Avalon prospect was also assessed using inputs from both the PSM and a parallel basin-wide geomechanical modeling study. This work has positively demonstrated that there is a very low likelihood of a mechanically breached seal at Avalon based on modeled pore pressures,” said Providence.John O’Sullivan, technical director of Providence, said: “The work completed during the first year of Licensing Option 16/27 confirmed our view as to the significant hydrocarbon resource potential of the Avalon prospect.“While the nearby 53/6-A well program is currently assessing the similar-aged Druid stratigraphic prospect, as well as the deeper lower cretaceous Drombeg prospect, Avalon is somewhat differentiated insofar as it demonstrates a potentially different trapping mechanism with structural closure mapped in the proximal sediment transport direction. The proximity of Avalon to the deeper breached Dunquin North oil accumulation is also a potential positive in terms of hydrocarbon sourcing.“We look forward to working with our JV partners to mature the Avalon prospect to drillable status.”To remind, just last week Providence started drilling operations in the Frontier Exploration Licence (FEL) 2/14, which contains the Paleocene “Druid”, Lower Cretaceous “Drombeg” and pre-Cretaceous “Diablo” prospects.