Thursday, May 25, 2006 10:03:13 AM
That $45 mil will be used to do alot of different things, as I do not think that Mr. Brandhuber is willing to sit on a low interest rate. The following gives some insight on what they may be doing:
"The Company is currently exploring opportunities in other areas of the energy industry with emphasis in supply and trading."
"The Company also intends to form relationships with other oil and gas companies with technical and financial capabilities to assist the Company in leveraging its interests in the EEZ. The
Company has succeeded in perfecting its interests in the 2001 Agreement with DRSTP or the 2003 Option Agreement and the Company is positioned to obtain sufficient financial and other resources to develop its interests."
"The operations and activities of this company have essentially been focused and limited to (1) continuing efforts to secure its working rights in the JDZ and EEZ; (2) funding the associated contractual obligations related to securing its
rights )primarily legal and technical support); (3) funding a limited office staff consisting of the CEO, the CFO and an administrative manager and associated rental obligations."
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