Replies to post #215 on ECGI Holdings Inc (ECGI)

[RichieBoy]

Any idea if either of these businesses mentioned

are in Mongolia? Interesting post thanks. :-)

[RichieBoy]

A shame Copower website didn't translate to English

I'm noting PetroChina just bought out the entire Mackay River and Dover projects from Canadian control.
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/petrochina-takes-full-control-of-alberta-oil-sands-project/article2289633/

I wonder where these two JV partners might be planning next? One thing for sure with tensions in Iran and the US in Straits of Hormuz oil isn't about to go down IMO

SCP Oilfield Services Company Introduction

Founded in Sep., 2010, SCP Oilfield Services (Yinchuan) Co., Ltd (referred to as SCP) is joint venture invested by Copower Enterprise and Schlumberger, with its headquarter located at Yinchuan, Ningxia province, and registration officially completed in Dec, 2010. Copower is a large integrated group company with 7 subsidiaries. As one of Copower’s subsidiary, Yinchuan Changlong Oilfield Engineering Co., Ltd (referred to as Yinchuan Changlong) is mainly engaged in exploration and development of oil and gas field, oilfield engineering services, financial investment etc. Schlumberger is one of the largest oilfield technical service providers in the world, and one of the world top 500 enterprises. It employs more than 105,000 people of over 140 nationalities working in over 80 countries, and with 25 research, development & engineering centers established worldwide. Offering a complete line of O&G upstream service, Schlumberger is devoted to provide new and innovative technologies with high added value for global clients. The establishment of SCP is a milestone for the cooperation between Yinchuan Changlong and Schlumberger. This joint venture will be focusing on Integrated Project Management (IPM), starting from Ordos basin and gradually expanding business to other O&G fields in China and overseas. New technology and management procedures are to be introduced to help the joint venture growing into a Field Development and Production Service (FDPS) Company with long term oil and gas production as its core business model.

Business Scope

Based in Ordos basin, SCP Oilfield Service (Yinchuan) Co. Ltd provides integrated, diversified, high quality and efficient oilfield engineering/technical service to clients, under O&G risk exploration and joint development business model. For years, SCP has been insisting on its own business principles, including focusing on oilfield operation, being open to the world, leveraging on capital operation and “scientific development concept”. Starting from simple transportation, workover and production service, SCP has grown into an integrated oilfield engineering service provider (IPM) covering pre-drilling, drilling, testing, fracturing , new well production/injection, surface construction, wellsite construction, and production technology management service.

[Potse]

Copower website updated...PDF file......

I think Jiao Xuding is preparing/planning to have his company (Copower Enterprise) listed on one of the Hong Kong exchanges. I recall seeing some Copower job postings in 2011, looking for accounting/governance related people who have experience with Hong Kong listings/IPOs.

In the last couple of months the Copower Enterprise website has been undergoing updating. It appears that Jiao Xuding's company is a much larger enterprise now and is rapidly diversifying its scope of business, including significant investments and operational activity in the areas of media, real estate, solar energy, etc.

I think what Xuding may be planning is an IPO of the parent company (Copower Enterprise Group), and then in about 3 years or so the oil exploration/production subsidiary (Copower Petroleum) may be spun off into a separate IPO/listing. A month or two after I made the above post I noticed that a September 2011 PDF file about Copower Enterprise started showing up in scans.

This PDF file provides an interesting look at the organizational structure of the company. Via loans/investments in the financial services segment of the business, Jiao Xuding and Copower Enterprise probably have some pretty nice exposure/relationships with many small-to-mid size privately-held businesses in China.

On page 13 it is mentioned that the Copower Petroleum subsidiary may seek an offshore listing......

Under the guidance of 5-year strategy, Copower Petroleum is
set out to become one of the largest non state-owned upstream
E&P company in China, achieving annual turnover of 2 billion
RMB, net profit 400 million RMB, and offshore listing with
three years.

http://www.arthurschulten.com/bk/box/General%20Introduction-Public.pdf

Copower Enterprise Group website......

http://www.copower.com.hk/web/index.php