Black Lion has been incorporated to pursue oil & gas opportunities in three specific geographical areas – Onshore USA, the Continental Shelf of West Africa, and offshore South East Asia and Australia. The aim is to build up a balanced portfolio of producing assets, as yet non-producing appraisal & development opportunities, and exploration acreage with upside.
The company will initially seek to acquire producing properties in the USA, which are generating cash-flow and which have undeveloped upside. The company will acquire a controlling working interest and engage a contract operator to operate the properties under its guidance and control, whilst seeking an operator’s licence in its own right. Black Lion’s resident US Director will be in charge of the day-to-day management of the business.
In the medium term the company will consolidate its USA investments and acquire interests in undeveloped offshore oilfields of 30-100 million barrels, suitable for floating production developments. The Company will select opportunities, which are being operated by experienced independent oil companies or are in the process of being acquired by such operators.
In the longer term the target is to reach a capitalization of $250 million, with a series of increasingly large acquisitions and developments.
Having worked in the USA onshore, the North Sea, offshore West Africa and Australasia, the management of Black Lion is very familiar with the requirements of responsible oil & gas field development.