dubai company to develop $5 billion energy cit, page-4

Sharpeye

A few other interesting statements from Kampac.
Follows..

KUFPEC Joins Galoc Joint Venture
Type: Development Activity
May. 2013 - Kuwait Foreign Petroleum Exploration Company (KUFPEC) became the newest addition to the Galoc joint venture in the Philippines. Through its acquisition of Risco Energy Pte Ltd, KUFPEC now controls a 26.84473 percent working interest in the Galoc development. Development of Galoc Phase II was approved by the partners in 2012. The development drilling program is expected to commence in June of this year with first production expected in Q4 2013.
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Chairman Message

Over the last 15 months we embarked on restructuring the Board and Management of the Company. A new Board has been constituted and we have hired additional professionals to take the Company to next level.
Our strategy was to acquire low hanging oil assets with low risk and we are proud to say we achieved our target successfully last year. We will continue to pursue this course for the next 24 months. We believe this is the right time for us to increase our producing assets due to the favourable climate that exists currently in the E&P market.

INTERESTING ??
We have added two new oil assets this year and are in negotiation to acquire two more by the second quarter of 2014.

We have increased our trading network and made significant in-road in the Far East and that will increase our trade revenues this year by 3% and 15% for 2014 financial year. We have negotiated for extended and increased trade credits lines to meet our ever growing oil trade demands.
We intend to increase our trading lines and network, invest $470M in exploration and production, and $800M in our Energy City project over the next 18 months. Our investment in our flagship Energy City will continue for the next 60 months and we anticipate our total investment over this period will be close to $5bn.

Our proudest moment for the year is the setting up of our Energy City project and funding of $900M was secured last year. We have also received positive interest from various investors and financial institutions across the globe. With the ground breaking of the Energy City project scheduled for Q3 of 2014. This will add value to the Company as well as profits for our investors.
The outlook for the coming years are very exciting, as our growth forecast looks very promising.
We look forward to working with all our Partners and Advisors to achieve our target growth of 30% per annum for the next 3 years.
We could not have achieved the milestones that we have today without the support of our hard working employees and associates, we are very grateful to them and thank all our customers for their support.
The Kampac dream goes on. Charles Ampofo Chairman

Now add in several multinationals looking at Data and the data room to close end of May 2014.
Take a rig and stir vigorously and what will we be told in June 2014.

At the current crazy price..IMHO... of otto then a takeover would be so simple. However they would not get the majority of the top 20 or so unless it was at a huge premium to the current price. Say 25cents.. might sway many.
The interesting thing is the amount of window shoppers looking and the statement from Mr Charles Ampofo.
Thats not to say he is talking about Otto but the timing fits. End of June quarter...
Roll on better days.
All factual information and some possible speculation
247.
it will be a exciting 8 weeks ..end of June 2014