cape energy secures funding to develop galoc

Here is my research. Appologies for the delay.....

The following information relates to company details of Cape Energy, their alliances, and investment/funding partners.

Cape Energy Pty Ltd was established in Australia in March 2004. The company was created by two well known international oil and gas consulting companies to concentrate on developing existing reserves in Asia Pacific hydrocarbon basins (ie. Galoc).

The two companies are ADVANCED WELL TECHNOLOGIES who are involved in oil and gas development and LEADING EDGE ADVANTAGE (Scotland based) who are involved in advanced well engineering technology solutions.

Both Leading Edge Advantage (Australia) and Advanced Well Technologies share the same address as Cape Energy - which is located at 1050 Hay Street West Perth.. In addition, the heads of these two companies are also company directors of Cape Energy. Ian Luster (Cape Energy director) heads Leading Edge Advantage (Australia), and Cameron Manifold (Cape Energy director) heads Advanced Well Technologies. Both directors were appointed in March 2004.

In January 2005 two additional people were appointed as directors of Cape Energy. They are Fergus Wilmer and Geoffrey Spender. Both are based in Hong Kong and are employed by GENERAL ENTERPRISE MANAGEMENT SERVICES LIMITED (GEMS). Fergus is the Executive Director and Geoffrey is the CEO of GEMS.

GEMS is a private equity fund management group that has US$500 million of funds under management. GEMS is currently in the process of raising a further US$300-500 million. Refer to their website for further information.

GEMS Investment Criteria:

1.A minimum of US$10 million and a maximum of US$50 million per investment;
2.Investment time frame is 3-5 years; and
3.Investment rate of return is a minimum of 25%.

GEMS have just announced (hot off the press) that they have invested in Cape Energy.

The above factual information has been sourced from various websites which I have referenced below. I also carried out an ASIC company search on Cape Energy Pty Ltd (ACN 108 202 857) to verify company details.

More information can be obtained by browsing the following websites (and associated links).

Websites:
Advanced Well Technologies (www.awtgroup.net)
Leading Edge Advantage (www.lealtd.com)
GEMS (www.gems.com.hk)
Cape Energy (No website available)

Comments welcomed.