Ghazanfar (Guz) Zafar
Calgary, AB (CAN)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Tallahassee Petroleum Inc.
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Startup
Location:
Calgary
Industry:
Energy
Year Founded:
2007
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"C" Corporation
Description:
About Tallahassee:
Tallahassee Petroleum Inc. (Tallahassee) is a private firm specializing in direct investments mainly in mature oil and gas assets. Tallahassee and its affiliates acquire, operate and develop producing oil and gas properties on behalf of investor oriented limited partnerships. Since the creation of the company 4th Quarter of 2007, company's goal has remained the same: to provide attractive returns to its investors through cost effective management of low-risk energy investments, while emphasizing preservation of capital. By placing a premium on controlling risk by acquiring producing fields with partners, Tallahassee is able to capitalize on joint pool of engineering and geologic expertise to spread risk, control costs, identify long life producing wells and become a higher-margin producer.
Tallahassee currently has approximately $4.5 Million in total assets. Tallahassee believes in flat low cost management, employs few contractual employees on need base services (Reservoir Engineers, Geologist, Production Operators, Landsman and Accountant). Tallahassee and its affiliates have its stake in 5 oil and gas fields (Rainbow Lake, Red Earth, Bashaw, High River, Berry) in Alberta with net non-operated production of 130 barrels of oil equivalent per day.
Tallahassee also owns high profile sections in partnership (WI-20%) in an exploration Wabamun Gas play in Peace River, AB. The 3840 acres of land carries a prime Wabamun gas play with ~ 5 BCF of gas in place. The exploratory block is being actively pursued to be farmed out to a major operator to develop the field.
Tallahassee is anticipating boosting its net operated and non-operated production to approximately 240 barrels of oil equivalent by June of 2010, when it’s few pending acquired and drilling oil and gas producing projects comes on stream.