The Company is a privately held corporation. Management’s goal is to enhance shareholder value through the following:
The Company intends to substantially increase cash flow and proven oil and natural gas reserves through its scheduled active development program in California which is expected to commence in fall 2023. The Company intends to distribute a portion of the production proceeds to the shareholders through dividends.
The Company has world class oil and natural exploration opportunities in both the North Sea and California. The Company intends to drill wells to test these significant prospects in 2024. Upon commercial success, the Company intends to “sell down” working interests in its international discoveries and distribute proceeds to shareholders through dividends.
To mitigate risk and diversify its substantial exploration opportunity base, the Company is seeking third party working interest participation through farmouts and other transactional structures.
To timely implement its future exploration and development plans, the Company will use internally generated cash flow, enter into joint ventures and offer equity and/or debt securities. The skillsets and contact networks of its senior management team and Board of Directors will enable the Company to consummate effective capital offerings and to create liquidity to increase shareholder value.
Through its CCUS subsidiary, the Company plans to utilize its asset base, experience and contacts to enter into joint ventures that have the ability to create substantial value to shareholders through future cash flow generation and divestitures. Through the capture and storage of excess atmospheric CO2, the Company will be making a significant contribution to mitigating the impact of its carbon footprint and help achieve worldwide net zero goals.