Premier Energy Corporation
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Premier Energy Corp. is a publicly listed company in the US (PNRC.OB) and in Germany (P79.F). Premier Energy Corp., through its majority-owned Russian subsidiary, Karbon CJSC, is engaged in the business of producing oil and gas from the North-Kopanskoye Oilfield, in the Russian Federation. The company interest's in the North-Kopanskoye Field consists of 3 shut-in exploration wells and one production well which is currently operating or has been operated recently, totaling 3,213 gross acres for oil production and is located to the southeast of the city of Orenburg. It markets and sells its products primarily through third party operators of the wells and a third party marketing company. As of December 31, 2008, Premier Energy Corp. had approximately 30 million barrels of estimated total oil. The company was founded in 2000 and is based in Dallas, Texas.
The company is currently raising capital to improve production at the 3 drilled exploration wells, for drilling of new wells and to acquire further leases and production in the same region of Russia.
It is our assessment that this is a very interesting company with valuable assets, experienced management who has worked in Russia and has vast experience in this type of production. The company is well positioned in an area of Russia, which has proved to be a solid oil producing area. The company's assets are connected to pipelines, which can be used for export once production reaches minimum levels of app. 1000boe/day. This type of company development is very well know in Canada in the Western basin and the activities in Canada, could be used as a model for the development of older oil regions in Russia, which have been principally developed by large multinationals sized companies.
There are risks with this type of production and with its location in the Russian Federation, but the risks are not higher than those in parts of the Middle East or Africa and should be put in this larger prospective. The potential for growth and the potential rewards for being an early entrant in this type of small oil and gas play in Russia could be a very attractive investment.
We are interested in finding new investors and partners.
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Premier Energy Corp.
14785 Preston Rd., Suite 550
Dallas, Texas 75254 U.S.A.