We are in the process of acquiring assets via license rounds. We are actively participating in the Marginal field license round together with strategic partners offshore and onshore Niger Delta. If our bids are successful, the intention is to bring the fields into production between 6-14 months from the date of award with the help of our technical and financial partner (Sinok Oil and Gas UK limited) who have strategic alliances with UK facility companies to purchase production facilities and pipeline construction.

We are also in advanced discussion to acquire significant equity position in an OML that needs capital investment to get to first oil and become the operator pending regulatory approvals. Sinok will be entitled to approximately 12,000bpd at peak production. Also, we believe that we could get this asset to first oil in less than 12months.

We have a partnership with one of the worlds biggest power generation companies. With the huge gas reserves in the assets we are interested in, we are in implementation stage discussions with our partner to bring in gas powered turbines to generate power, which will be added to the National Grid and supply local business and communities.

As part of our business strategies, our partners are supportive of funding a modular refinery capable of refining approximately 5,000bpd for a start and can be scaled up to meet local petroleum demand.