Blacksands Petroleum (BSPE)

[OilStockReport]

Looks like a good business model.

I. Philosophy
Blacksands Petroleum, Inc. (OTC: BSPE) is an Oil and Gas exploration and production company (i) acquiring, developing and operating oil and gas fields and (ii) leasing and exploring for future fields and basins, onshore in N. America. We are located in Houston, Texas.

Our business philosophy is:

To seek out and acquire under-valued and under-developed properties with upside potential through reworks, recompletions, development, and exploration drilling; and
To identify and acquire prospective acreage positions for the purpose of evaluating new conventional and unconventional oil and gas potential in areas which have been over-looked by large independents and major oil and gas companies.
This growth philosophy allows Blacksands Petroleum the basis for increasing shareholder value by:

Building a solid foundation by means of a steady cash flow from proven developed producing properties (PDPs) augmented by reserve growth potential from (i) proved developed non producing properties (PDNPs), (ii) proved undeveloped producing properties (PUDs), and (iii) new exploration properties; and
Exploiting our Management Team's experience and expertise in (i) utilizing advanced drilling, completion and production technology, including horizontal drilling, stimulation and fracture completion technology, (ii) implementing secondary and tertiary recovery processes, and (iii) exploring new fields and basins using seismic technologies.
II. Targets
Targets include assets owned by entities which are (i) in need of liquidity, (ii) in financial distress, (iii) unable to meet lease obligations, and/or (iv) offering to sell non-core assets as a result of a change in business strategy or reorganization.

III. Core Properties
Blacksands Petroleum's core properties are located in the United States in Colorado, New Mexico and Texas.

IV. Management
Blacksands Petroleum has an experienced, aggressive Management Team of oil and gas professionals who have management level experience in a broad array of exploration & production companies, including public and private start-ups, mid cap independents, and major oil companies. The expertise of the Management Team includes in-depth personal experience and knowledge in acquisitions of producing properties, exploration and development, geological and geophysical analyses, reservoir and down-hole engineering, joint interest and revenue accounting, land management and legal matters.

V. Operations
Blacksands Petroleum through its subsidiary NRG Assets Management, LLC a Texas Limited Liability Company is operating or intends to operate a majority of the producing and non-producing properties and leases it acquires. The Management Team manages the day to day operations, including all technical aspects of the properties, as part of our long term goals of cost control and production growth.

The broad-based experience and understanding of our Management Team as it relates to operations and development allows Blacksands Petroleum to effectively control the operations of its properties. By maintaining operational control, Blacksands Petroleum can control the costs and timing of our operations and drilling/work-over activities to continually deliver the highest possible return at the lowest possible cost to the Shareholders. Where Blacksands Petroleum is not the operator, we participate with others who share our philosophy and allow Management Team input.