Yes, Jumeirah Resources PLC is the company that GRPR is joint ventured. The management of GRPR is the management of Jumeirah Resource PLC. I spoke to Screaming Eagle last night as to why they would structure the deal in this fashion. He told me that it is easier to raise money on the Frankfort exchange as a new exploration company than for GRPR to try to do it here as the companies stock has steadily declined and been diluted. He also suspects that GRPR has lost it's luster for the time being to accredited investors, since GRPR has been the target of (relentless pump and dump schemes, by small unsophisticated investors) and dilution by the company. It would therefore be much easier to start another business entity and go public in another market to raise the funds necessary, partner with GRPR and work hand in hand to develop both companies. The Frankfurt exchange is usually where this is done.
Jumeirah Resources Management
President, Paragon Energy Corporation.
Mr. James Powell - President
Mr. James Powell comes to Paragon Energy Corporation after an extensive career in commercial and residential real estate, specializing in valuations and investment properties. From September 2006 to the present, Mr. Powell has been the owner and operator of JP Commercial, a commercial real estate company located in San Diego, California, and which specializes in the sale and aquisition of investment properties. Properties include multi-family, retail, and commercial office buildings. From June 2002 through September 2006, Mr. Powell worked for CB Richard Ellis, Inc. in San Diego, California.
Rajeev Samtani (FCA, FCWA) - Director and Secretary
Providing excellent financial guidance for the Company, utilizing his background first as a Senior Associate with PricewaterhouseCoopers and Financial Controller of the prestigious Burg Al Arab and now CEO of his own accounting practice, Rajeev has the depth and experience to effectively manage the Company's fiscal affairs.
Stephenie Grafton Capozzi - Director
Stephenie has engineering degrees in aerospace and computer science, and has worked projects for NASA and spent many years with Oracle.
Over the last 10 years Stephenie has been an independent consultant to an independent oil and gas exploration firm based in Fort Worth and Abilene, Texas.
By applying her analytical skills developed running the lab at Texstar, she has been able to significantly increase the accuracy of pre-drilling modelling for the firm. By interpreting the large amount of data available and creating complex models they have been able to choose drill sites much more effectively and reduce the number of months required for payback.
Jumeirah is pleased to have her as a board member, and looks forward to the benefit of her varied skill set.
Advisory Board Member(s), Paragon Energy Corporation.
Oil Field Engineer, Paragon Energy Corporation.
Mr. Steve Olsen - Oil Field Engeneer
Mr. Olsen has 34 years of experience in all phases of the oil and gas industry including but not limited to the field service, completion, production and work-over of all forms of Oil and gas assets. Most recently Mr. Olsen has been the lead of the accomplished Olsen Consulting Company of Oklahoma.
Mr. Olsen has spent the last several years working with Chesapeake Energy Corporation developing the following shale formations. The Barnett Shale for three and a half years, the Woodford Shale for eight months, and the Fayette and Marcellus Shale for approximately six months each.
Mr. Olsen has also worked with other significant Oil and Gas production and exploration companies including Schlumberger Oil Field Services for over nine years in the prolific Permian Basin of Texas.
TESTS BY JUMEIRAH RESOURCES REVEAL LARGE OIL AND GAS RESERVES IN NORTHWEST PREMONT FIELD DEVELOPMENT DRILLING AND RE-ENTRY PROJECT
INVESTOR OPPORTUNITY
Nov. 17, 2011
Extensive research of the Northwest Premont Field by Jumeirah Resources have revealed the potential reserves in this re-entry project are far greater than expected.
Three initial test wells in this redrilling project have been completed proving considerably more acreage and more reserves. The field has grown from what was anticipated to be 800 acres to over 4500 acres. The sites potential had not been fully explored as the previous operators, restricted by limited capital, passed away before the field could be developed.
"With oil prices currently stable and predicted to rise, equipment costs low and the political will in the US to become 'energy independent', there has never been a better time to invest in domestic oil and gas discoveries," said James Powell, President of Jumeirah Resources, "The situation of this field in the centre of an area of high production combined with the positive results from our extensive studies indicate that investment in this project could potentially yield a high rate of return."
The Northwest Premont Project is comprised of two ideal situations:
1) Re-entries into a number of wells that have been drilled, logged, cored, and tested positively for oil and gas in stacked Frio sands.
2) Development wells that can be drilled between previously drilled, logged and cored wells or newly successful re-entries which encountered oil and gas sands that were not produced, reducing overall risk and enhancing potential returns on investment.
The development of the Premont field is to be accomplished through a series of reentries and reworked wells initially and then the drilling of additional wells inside these "proven" locations.
The management team consists of James Powell, president of US public traded oil and gas firm, who has a proven track record of managing high-end investment projects and delivering high returns and Steve Olsen and Darrel Jones, industry experts with extensive experience in oil and gas development.
JUMEIRAH RESOURCES PLC ANNOUNCE SUCCESSFUL LISTING ON THE DEUTSCHE B?RSE - FRANKFURT STOCK EXCHANGE
FINANCING ENABLED FOR LOW RISK U.S. IN-FIELD OIL AND GAS DRILLING
Nov. 1, 2011
Jumeirah Resources PLC is pleased to announce it has been admitted for trading on the Frankfurt Stock Exchange Open Market on 29.Aug.11.
The company is perfectly poised to activate several redrilling projects including the Northwest Premont where initial tests have shown to exceed expected potential reserves. The listing places Jumeirah Resources PLC in prime position to access the capital markets and work with investors wishing to take advantage of this low risk method of exploiting untapped oil and gas reserves. Prior to this, Jumeirah Resources acquired Paragon Energy Corporation gaining control of its valuable lease assets.
The decision to list and invest in the programme of infield redrilling in the US at this time is based on a combination of favorable factors. The stability and predicted rise of oil prices, the drop in the overhead costs of drilling and the continued prodigious demand in the US for this finite commodity. The US uses more than 19.1 Million barrels each day while the whole of Europe uses about 13.8 million barrels each day. US political will for "energy independence" and less reliance on foreign imports (coining the phrase "drill baby drill") means there is a regulatory background to facilitate this investment as well as an established infrastructure for drilling and production. North America remains the largest consuming area of energy (oil and gas fuelled) with oil consumption in the United States and Canada at almost 3 gallons per day per capita.
"Jumeirah Resources PLC is proud to announce this FSE listing," said James Powell, President of Jumeirah Resources, "The potential of our redrilling projects at an optimum time to commence operation, cannot be bettered. We are looking for investment partners willing to reap the rewards of this relatively low risk, high delivering opportunity."
James Powell, who has a proven track record of managing high-end investment projects, and is also President of a US listed oil company, leads the management team for Jumeirah Resources PLC in collaboration with Steve Olsen and Darrel Jones, industry experts with extensive experience in oil and gas development.
Investor Opportunity
Investors interested in being part of this project should contact Jumeirah Resources: UK Office - Tel +44 118 995 2779 Dubai Office Tel +9714 311 6639 Email ir@jumeirahresources.com
Jumeirah Resources PLC Overview
Paragon Energy Corporation, a wholly owned subsidiary of Jumeirah Resources PLC, is an organization, focused on the acquisition, development, exploration and production (E&P) of low risk, high impact oil and gas properties across North America. The Northwest Premont Drilling Prospects acquired by Paragon Energy Corporation encompass over 4,000 acres of high impact gas leases and are located in an area of some of the largest proven gas reserves in North America. Additionally the Company is now viewing to expand its acreage in the region, and is looking to acquire further oil and gas assets examining all prospects to increase the company's potential exploration base for future drilling and production.
About the Frankfurt Stock Exchange
Founded over 400 years ago, Deutsche Borse's Frankfurt Stock Exchange is the world's third largest trading exchange, ranking only behind the New York Stock Exchange (NYSE) and NASDAQ. The Frankfurt Stock Exchange is home to public companies from more than 80 different countries with companies from North American making up almost 40% of the total companies listed, including more than 3,200 from the United States alone. Companies from countries like the US, Canada, Australia, the UK, India, and China are increasingly choosing the Frankfurt Stock Exchange over their home country's stock exchange. "Xetra", the Frankfurt Stock Exchange's electronic trading platform, is widely accepted as the most efficient and flexible automated electronic trading system in the world.
JUMEIRAH RESOURCES PLC ACQUIRES PARAGON ENERGY CORPORATION
May 20, 2011 - Jumeriah Resources Plc is pleased to announce that it has completed the purchase of all the existing outstanding shares of Paragon Energy Corporation, a private Nevada oil and gas resource holding company, by way of the exchange of common equity shares of Jumeirah Resources Plc.
The completion of this share exchange provides for Paragon Energy Corporation to operate as a 100% wholly owned subsidiary of Jumeirah Resources Plc.
Paragon Energy Corporation is a holding company with the rights to drill five wells on the Northwest Premont property located in southern Texas. The ownership of the five drill sites allow for the company to participate on a Cash In basis for points of participation for each well drilled.
The reserves for the Northwest Premont property have been identified in the geological study to contain over 26,000,000 bbls of oil and 17,250,000 MCF natural gas in the 4500 leased acres. Current testing on the initial test well is forecast to produce 200,000 bbls of oil ands 1,500,000 to 2,000,000 MCF of natural gas.
Further details regarding the transaction and the various Oil and Gas assets that Paragon Energy Corporation currently owns and operated, as well as the projects under development will be made available in the near future.
Jumeirah Resources Plc Company Information
Jumeirah Resources Plc was incorporated under the Laws of England and Wales on April 21, 2011.
The Company was organized for the purpose of acquiring exploration and development stage natural resource properties.
On May 20th the Company purchased all the outstanding shares of Paragon Energy Corporation, a private Nevada Corporation, for shares in the Company.
Based in Monarch Bay CA, Paragon Energy Corporation was formed on March 11, 2011.
Paragon Energy Corporation, a wholly owned subsidiary of Jumeirah Resources Plc, is an organization, focused on the acquisition, development, exploration and production (E&P) of low risk, high impact oil and gas properties across North America. The Northwest Premont Drilling Prospects acquired by Paragon Energy Corporation encompass over 4,000 acres of high impact gas leases and are located in an area of some of the largest proven gas reserves in North America. Additionally the Company is now viewing to expand its acreage in the region, and is looking to acquire further oil and gas assets examining all prospects to increase the companies potential exploration base for future drilling and production.
