Phoenix AmeriCap Oil Acquires Stake In OPL 2012 and Launches Website
NEW YORK, NY, April 30, 2015 (Newswire.com) - September 24, 2014 marked the first acquisition by the firm. The firm kicked off by farming into 25% equity of OPL 2012 and first rights of refusal on an additional 15% to acquire a total of 40%. The Signatories, Mr. Wayne Needoba, Chief Chris Uba concluded the signing of the farm-in agreement, which commenced the partnership. The company is a junior Oil and Gas Exploration company with a focus on Africa. The company's first asset OPL 2012 in the Niger Delta is undergoing financing, as the company is acquiring assets in other West African countriesPhoenix AmeriCap Oil Limited, a newly formed subsidiary in the Phoenix AmeriCapital Group recently farmed into OPL 2012. The Company is focused on acquiring low risk assets in Africa. The company's key strengths and opportunities are its swift moving advantage in its host countries, in-depth understanding of the local landscape in its host countries, and its ability to access the capital markets through a wide variety of financing, inclusive of nontraditional sources of financing.
The new website gives a transparent view of the company, as the privately held firm grows its portfolio of assets in the region. The company's acquisition of the highly prospective OPL 2012 with Sigmund Oil Fields is the beginning of its activities as an international junior exploration company. The firm's role is that of the financial partner and technical partner for OPL 2012.
I feel great being out here in Enugu State. This is monumental! This is a great investment, in which, we anticipate great ROI.
Wayne Alfred Needoba, Managing Director
In fulfilling its role as the Joint Operator and financial partner, Phoenix AmeriCap Oil Limited will be responsible for the development of OPL 2012 and for 100% of Working Interest by providing the required CAPEX funding and technical expertise for the exploration, appraisal, development and production of hydrocarbons within OPL Block 2012, which includes satisfying the required regulations for unitization and eventually converting the Block to an Oil Mining License (OML).
OPL 2012 is located Offshore Niger Delta, in shallow waters with a range between 50 and 100m, its' location within a highly prospective zone is bordered by Shell's HD field to the northwest, NNPC's Agbara field to the west, Addax's multiple discoveries to the south, Sunlink's H1 field to the west and Shell's JK Field to the north.