Description
Our mission is to drive value through the identification and acquisition of oil and gas assets that can be rapidly developed into production. Our vision is to become the leading junior oil and gas company in Atlantic Canada.
Our approach is to develop our assets profitably while recognising that we have a role to play in the development of the communities in which we work and the protection of the environment in the regions where we operate.
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Company Statement:
Enegi Oil Plc is an independent oil and gas group. Current operations are focused on four prospects around the Port au Port peninsula in western Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having been discovered on a number of occasions.
Our mission is to drive value through the identification and acquisition of oil and gas assets that can be rapidly developed into production. Our vision is to become the leading junior oil and gas company in Atlantic Canada.
Our approach is to develop our assets profitably while recognising that we have a role to play in the development of the communities in which we work and the protection of the environment in the regions where we operate.
Current Operations:
PDI Production Inc., a wholly owned subsidiary of Enegi Oil Plc, is operator of a production lease located on the Port au Port Peninsula, Western Newfoundland.
Newfoundland and Labrador expects to produce almost 45 per cent of Canada's conventional, light crude oil and generate 12 per cent of Canada's hydroelectricity. Newfoundland and Labrador is strategically positioned on international shipping lanes, giving unique access to global petroleum markets. The Province currently has a 115,000 barrels of oil per day refinery and a second 300,000 barrels of oil per day facility is proposed. There is also a three million barrel per day transhipment terminal that services the offshore petroleum industry.
Properties
The Port au Port Project consists of the following licenses and leases, covering a total of approximately 300,000 acres:
- Exploration License 1070 (around 39,000 acres)
- Petroleum Lease #2002-01 (around 255,000 acres)
There are five defined structures within the Port au Port Project:
- Garden Hill South (PL #2002-01).
- Garden Hill Central (PL #2002-01).
- Garden Hill North (PL #2002-01).
- Shoal Point (EL 1070).
- Lourdes (EL 1070).
PDIP has a 100% Working Interest and is operator for all of the PL #2002-01 structures; and is a 60% working interest holder in the EL 1070 structures.
PDIP commissioned an independent evaluation of the company’s oil and gas assets from TRACS International Consultancy Limited (“TRACS”), an independent consultancy specialising in petroleum reservoir evaluation and economic analysis. Following this evaluation the estimated ranges of Contingent and Prospective Resource volumes are summarised in the table below assuming 6 thousand standard cubic feet (Mscf) of gas equate to one barrel of oil equivalent (boe).
READ MORE ABOUT ENEGI OIL'S LICENSES HERE
| Classification | Unrisked Net Volumes in MMboe | |||
| on execution of all Farm-in agreements | ||||
| Low est. | Best est. | High est. | Mean. | |
| Contingent Resources | 2.6 | 6.7 | 16.9 | 8.6 |
| Prospective Resources | 12.7 | 32.4 | 82.3 | 42.2 |
Management
Directors
Clive Fowler
Non-executive Chairman
Clive joined Amoco and in 1996 was appointed Managing Director of Amoco UK, the first British national to hold this position. Following the merger between BP and Amoco, he became West of Shetland Business Unit Manager for BP. Clive retired from BP in 2003 and has since held non-executive director positions in two Aberdeen-based start-up companies. He has a BSc Hons in Geology from the University of Birmingham.
Member of the Audit, Remuneration and Nomination Committees.
Alan Minty
Chief Executive Officer
Alan qualified as a Chartered Engineer in 1975. Alan was a risk advisor for the Norwegian Petroleum Directorate in 1979. Since then he has worked on major contracts for clients such as Mobil, BP, Amerada Hess, Shell, Texaco, and, in Newfoundland, on the Hibernia, Terra Nova, and White Rose projects. Alan has a BSc in Mechanical Engineering from Manchester University and an MSc in Management Studies from Bradford University School of Management.
Kevin McNair
Chief Financial Officer
Kevin started his career in 1988 as an auditor for Fremont Financial Corporation in Chicago. Following completion of his MBA in 1993, he joined the corporate finance team of UBS. In 1995 he joined the corporate finance team of Granville Baird, a UK investment bank. In 2002, he joined a privately owned industrial services group as Group Finance Director. Kevin has a degree in Finance and Accounting from William & Mary (USA) and an MBA from London Business School (UK).
Alex Lamb
Non-executive Director
Alex is Chairman of British Engines Limited, an engineering company supplying the oil and gas industry. Before joining British Engines, Alex trained as a Chartered Accountant (CA) with Price Waterhouse, qualifying as a CA in 1996. After qualifying he worked within the Audit and Transaction support department with a number of listed and international companies. Alex has a degree in Economics from Heriot Watt University.
Member of the Audit, Remuneration and Nomination Committees.
Atholl Turrell
Non-executive Director
Atholl is Non-executive Vice-Chairman of Arbuthnot Securities and a Non-executive Director of, and consultant to, Arbuthnot Banking Group Plc. Until 2001 he was Managing Director and Head of Corporate Stockbroking at Schroder Salomon Smith Barney (now Citigroup). He qualified as a Chartered Accountant in 1984. Atholl holds a Ph.D in History from Cambridge University.
Member of the Audit, Remuneration and Nomination Committees.
Barath Rajgopaul
Executive Director, Group Sub-surface Manager, Enegi
Barath is a Chartered Engineer who began his career at Shell Chemicals, before moving to ICI and then the British National Oil Corporation which was later taken over by BP. He joined BG Group where he worked until 2006. Barath's specialisation is in negotiating and managing large joint ventures such as The North Caspian Venture (Kashagan), Elgin Franklin, Ninian, Audrey, Pickerill, and V-Fields (North Sea UK). Barath holds an MSc in Mechanical Engineering from the University of Strathclyde.
Major Shareholders
Enegi's major shareholders are:
| Number of | Percentage of issued | |
| Shareholder | Ordinary Shares | Ordinary Share capital |
| Alan Minty | 7,403,911 | 24.36% |
| Rapid Realisations Fund Limited | 3,648,069 | 12.00% |
| Henderson Global Investors Limited | 2,430,939 | 8.00% |
| BlackRock Investment Management (UK) Limited | 1,800,000 | 5.92% |
| Barath Rajgopaul | 1,764,851 | 5.81% |
| PDI Production Ltd | 1,764,851 | 5.60% |
| BEL Valves Ltd | 1,610,445 | 5.30% |
| Michael Hibbert | 1,608,038 | 5.29% |
| Pacific International Management Inc. | 1,519,890 | 5.00% |
| BCM Partners LLP | 1,000,000 | 3.29% |
Contact Information
Enegi Oil Plc
44 Peter Street
Manchester
M2 5GP
Tel: +44 (0)161 817 7460
Company secretary: Tejvinder Minhas
Financial public relations advisers
College Hill
The Registry
Royal Mint Court
London
EC3N 4QN
Contact:
Nick Elwes
Tel: + 44 (0)207 457 2020
nick.elwes@collegehill.com
Corporate Information
No info available.

