Phoenix AmeriCap Oil Limited in Talks With European Finance Firm -- Pursuing Nine Figure Capital Infusion
REM Capital Infusion Poised to Exceed USD $360 Million
NEW YORK, NY, May 18, 2015 (Newswire.com) - Phoenix AmeriCap Oil Limited (or the Company), the subsidiary of Phoenix AmeriCapital Trading, involved in Oil and Gas exploration, announced that the Company anticipates a capital infusion in excess of USD $360 Million through a facility proposed by REM Capital, a European private equity firm.
"Securing substantial, non-commodity based financing, affords us not only the ability to pursue the completion of our current projects, but to aggressively acquire low risk revenue generating opportunities that are immediate and can positively impact our 2015 balance sheet," stated Mr. Andrew B. Urey, Chairman of Phoenix AmeriCap Oil Limited.
Management is confident that the formal contract from REM Capital and Phoenix AmeriCapital Finance will arrive closer to USD $420 Million, given the greater immediate income value of acquisition targets and OPL 2012. A formal contract from REM Capital and Phoenix AmeriCapital Finance is anticipated prior to the end of May. This will give Phoenix AmeriCap Oil the ability to complete the farm-in of OPL 2012, begin development of OPL 2012 and prepare the roll-out of their 2015 plan.
"We believe that REM Capital truly recognizes the value in Phoenix AmeriCap Oil Limited’s projects, our management's capability, as well as Phoenix AmeriCapital’s role as co-financier,” Mr. Urey added. “With a first round capital infusion of this size, we will have the means to complete the Farm-in agreement with our local partner, Sigmund Oil Fields Limited, and expedite various programs which will establish viable profit centers for the Company."
About Phoenix AmeriCap Oil Limited
Phoenix AmeriCap Oil Limited, an affiliate of the Phoenix AmeriCapital Group, is a Pan African exploration focused oil company currently active in the Niger Delta. The company is a leaseholder in OPL 2012. The company is committed to developing revenues by conducting exploration, development and production activities. The company's mission is to maintain being a junior Oil and Gas Company, geographically focused in Africa and believes in acquiring and exploring choice assets in ways that positively impact the lives of the communities in which it operates, and maximizes value for investor
Contact information
Team PAC Oil
(570) 972-1049
About REM Capital
REM Capital Management (the Firm) is a privately owned European investment firm. The Firm is centered on three core activities: Private Equity, Asset Management and Structured Finance. REM Capital connects clients to the institutional investment market for banking, asset management, private equity and structured finance.
The Firm operates a quantitative investment model designed to capture upside while limiting downside and is predominantly focused on uncorrelated investment returns. The Firm's institutional fund platform provides its investment fund clients with access to sources of capital for the long term.
Specialties are: Private Equity, Asset Management, Investment Funds
About Phoenix AmeriCapital Finance
Phoenix AmeriCapital Finance is a privately held subsidiary of the Phoenix AmeriCapital Group, focused on Structured Finance and geographically targets companies in Africa. Phoenix AmeriCapital Finance connects clients to financial markets in the United Kingdom, and the United States for Private Equity, Structured Finance and Investment Banking.