We caught up with Scott Kaintz, Chief Executive Officer at this year UK Investors Show held at the QE2 building in London.
In the interview, he talks about the company structure, market conditions, projects, financials and what makes RRR a stand out company moving forward over 2019.
Curzon Energy is a UK listed oil and gas company focused on shareholder value creation through strategic and targeted global oil and gas development and acquisitions. Its current focus is on the dramatic changes in US natural gas space, whether that be the shift to natural gas as the preferred transitional power source assisting decarbonization, or the rapid growth of US LNG exports across the world. These changes have significant effects around the world and can not only bring clear economic benefits and contribute to better functioning gas markets, but can also affect trade imbalances and geopolitics.
Currently, the Company has an asset in Coos Bay, Oregon where Curzon is 100% owner and operator of a known and tested coalbed methane gas accumulations on c. 45k acres.
The Coos Bay asset has historical positive test data; 86 to 419 BCF of contingent resources and up to 1,000 BCF of CBM gas in-place. The previous operator has spent C. $37m to date and has drilled 5 wells and laid 4 miles of pipeline running from these 5 wells, located within 15 metres of the regional pipeline. The project offers other advantages including a 16 year gas price premium to henry hub, and a large LNG terminal in the planning phase nearby.
The Company has also announced an MOU with Pared Energy to jointly develop a Texas based gas project. In Texas the Company is working with the team at Pared to prepare for the drilling of appraisal wells to test the application of modern drilling and completion technologies to under exploited and proven reservoirs. The essential thesis here is the application of new technologies to “old” producing areas, with the prize being of multi-TCF size and the ability to scale up this appraisal plan greatly upon successful results.
The Directors believe that the Coos Bay CBM project along with the Pared Energy Texas project offer investors a unique proposition with direct exposure to the burgeoning US natural gas production and export revolutions.
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