Growth strategy
The Company’s growth strategy is to acquire Oil Shale assets within and outside the USA and to build a portfolio of such assets with a view to long term exploitation using the Ecoshale production method and secondly to acquire conventional oil assets in the USA and elsewhere, concentrating principally on shallow producing oil wells. The criteria that the Board intends to apply to potential investments are broadly described as follows:
  • The Group will participate principally as a non-operating, investor in prospects operated by industry partners known to the Board;
  • The Group focuses on shallow oil shale prospects, being prospects above 150 meters, in line with the EcoShale production criteria.
  • Where the Group invests in non-producing conventional oil leases, the Board invests in areas with proven wells nearby, adjacent to existing productive wells, or with other geologic or seismic indications that the risks of the prospect are relatively low;

By way of this investment strategy the Board intends, over time, to establish a growing portfolio of Oil Shale and conventional oil reserves and principally producing oil properties. Debt may be used to assist with investments.