Scott:
A message from CEO Neville Trevor...
As Chairman and CEO of CenGroup, I have spent the past year in Baku, Azerbaijan, where most of the reclaimable oil is located. During this period, relationships have been established with the US-Azeri Chamber of Commerce, the US Embassy, The World Bank, The International Finance Corp (IFC), and the Eastern European Development Bank (EBRD), as well as with various branches of the Government and a number of oil companies who are interested in our project
At the beginning of this process we were informed that it takes at least 18 months for a foreign company to get set up and operating in Azerbaijan . It took six months to obtain our operating permits and licenses giving us the authority to go into business in this country.
The World Bank is placing $60,000,000 into Azerbaijan for clean-up purposes. This includes all clean-up, not just oil. CenGroup is #1 on their list of contractors and we await the Azerbaijani government's plan on how the funds will be allocated.
The EBRD is suggesting a number of financial products for us, including an infusion of equity. This is the most important step for CenGroup at this time.
The US Embassy has offered their full support, as has the US-Azeri Chamber of Commerce.
Over the past months we have carried out small pilot projects for agencies, including the Azeri Navy. These demonstrations have proven the positive qualities of our products, methods, and business model. The tests went so well they offered us the use of their fleet for shoreline clean-up.
I have recently returned to North America to raise the capital needed to put our project into the production phase. Further messages to you will follow but I hope the above notes will show that we are moving forward and working diligently towards the goals of the company.
Regards,
Neville Trevor, Major (ret)
July 2007
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