Brian Courtney
oakville, NY (USA)
Role(s):
Anglo Crimean
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Startup
Location:
oakville
Industry:
Energy
Year Founded:
2003
Number Employees:
INVALID
Description:
Business: ACOC is an Isle of man holding company which has an agreement to purchase 100% of the share capital of Nostra Terra (Overseas) Limited. Under an agreement structured in 2003 ACOC can purchase NTOL for $3,702,000 payable in shares of ACOC and two notes due in 18 months.
Nostra Terra (Overseas) Limited has a joint venture agreement with Krymgeologia , a state owned joint stock company. Under the Agreement (JAA) NTOL has the right to develop the Oktyabroskoe field and receive 88% of the cash flow until NTOL recovers 100% of its capital and thereafter 60% of the proceeds.
The engineering study values the Oktyabraskoe field at just under $12,000,000 US at 5% dcf. This is after an arbitrary discount of 50% imposed by the engineer. The original study by Ryder Scott calculates rec