floating lng project
We are an oil and gas exploration company with a focus on WEST AFRICA. We are the sole owners of an oil and gas field. Exploratory phase has been completed leading to the discovery of over 30 million barrels of proven oil reserves, over 20 million barrels of condensate and over 1 trillion scf of natural gas.
The company has previously raised 250 million USD exploration financing through a Canadian company, these funds were used for acquisition of seismic studies, exploration, feed studies, evaluation and design of the floating LNG VESSEL.
Offtake agreements have been negotiated with oil trading giant VITOL and the European Federation of Energy Traders.
We are seeking to sell 40% of our SPV vehicle against a 10 million Euros angel investment for working capital, as we are only six months from production, investors will expect to receive an ROI within 2 years of 100%, and over 400% by year 5.
TRANSACTION IN DETAIL:
We are an oil and gas exploration company with a focus on developing stranded oil and gas reserves in West Africa.
Between 2005 and June 2007, a total of five (5) appraisal wells were drilled in the oil field and one exploration well in the prospect - these wells confirmed the presence of significant oil and gas reserves in the block. Over US$250million in the form of equity has been expended by our Parent Company and its partners on exploration, appraisal and development activities in the concession since 2005.
We have 30 million barrels of proven oil reserves, over 20 million barrels of condensate and over 1 trillion scf of natural gas.
We are working to purchase a floating LNG vessel that will produce 1.8 million MT per annum of LNG from our gas reserves.
We have negotiated draft offtakes with oil trading giant VITOL SA for the oil and condensate and the European Federation of Energy Traders for the LNG.
We have at this time set up an SPV which holds 40% of the current projects and is in final negotiating stage of 70% participating interest in other large oil and gas projects.
We have appointed Norwegian experts HEMLA to handle the technical operations. All feed studies and design etc already have been completed.
We are interested in selling 40% of the SPV vehicle to potential strategic joint venture/equity partners, for 10 million Euros.
We are currently only six months from production for phase 1 of the projects.
The Gulf of Guinea, particularly the coastline stretching from Nigeria to Angola, is fast emerging as a major oil and gas province and the countries of the region are witnessing increased investment in the exploration and development of their hydrocarbon reserves. The Republic Federal Republic of Nigeria is Africa’s largest oil producing country and holds Africa’s largest proven gas reserves in excess of 180 Tcf. The country is believed to hold an estimated 36 billion barrels of oil and 187 trillion cubic feet of gas reserves.
The country’s petroleum industry was initially dominated by the major oil companies. Within the last decade however, indigenous petroleum companies have increasingly been involved in the exploration, production and export of oil and gas. We are one of the original 44 independent Nigerian companies that were awarded Oil Prospecting Leases (OPL) in 1991 - 93 as part of the national petroleum indigenization program for the upstream oil sector. Five of the companies are currently in production.
This is a unique opportunity for a private investor to participate in a world class billion dollar project, which is usually only open to large IOCs or Institutional investors. A partnership with us will provide the investor with outstanding returns, with ROI forecasted to exceed 400% over a five year period at today’s market prices.
We have a full business plan available and would invite potential private investors to contact us for further information on this unique opportunity
NOTICE: THIS IS A RPIVATE EQUITY/JV DEAL, PLEASE DO NOT CONTACT US IF YOU REQUIRE UPFRONT FEES OR ANY ADVANCE FEES OF ANY SORT INCLUDING DUE DILIGENCE FEES, AS WE WILL NOT RESPOND TO SUCH INVESTMENT OFFERS
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