Invest in a new technology to recover hydrocarbons from existing Colorado oil shale resourcesThe Business
The Company is a privately held, Denver based, Colorado C Corporation, which was established in 1991. The Company is pursuing the development of unconventional hydrocarbon resources, including certain oil shale resources already under lease, by applying breakthrough in-situ and surface production technologies.
The Company is developing a patented process to economically extract high quality liquid hydrocarbons, natural gas and produce ‘green’ electricity. The process has low environmental impact and a small carbon footprint from unconventional resources such as oil shale, heavy oils and coal. The process has been issued three patents in the United States and Canada.
The Company holds oil shale mineral leases on 1,500 acres of private land in Colorado, which contain an estimated recoverable of 1.9 billion barrels of oil-equivalent. The Company is in negotiations to acquire an additional 2.1 billion barrels of oil shale resource contiguous with its current holdings.
Market
The Company is seeking equity funding of USD 40 million to retire existing obligations, commercialize the patented process on the Company’s existing Colorado leases (field engineering and design, permits and acquisition of the additional contiguous resources). It will also conduct engineering and design modifications to develop the process for applications for other unconventional hydrocarbon resources.
Following the capital raise, additional capital of approximately USD 250 million would be needed to fund the construction and initial operating costs of an up to 8,000 bpd commercial demonstration project utilizing the Company’s technology. Additional funding/investment opportunities of up to US$ 500 million exist to increase the production output from existing and pending leasehold interest and potentially other unconventional hydrocarbon resources. Production capacity of up to 15,000 bpd could be achieved with this level of investment.
Sector: EnergySegment: Hydrocarbon Recovery TechnologyRegion: North AmericaFinancing Size: $20m to $50mContact: Jeffrey Rosenthal
Company: Jeffrey RosenthalTelephone: +1 941 374 0839Email: [email protected]