PetroAfrique Oil and Gas Limited is a majority indigenous ownership incorporated joint venture between Australian/ British Companies AfroHawk Plc and HACWA Pty Ltd and Nigerian Company Petrosands Oil and Gas Ltd. Petroafrique is initially targeting early cash flow through the acquisition of interests in upstream petroleum assets either currently producing or capable of being brought into production within 6-18 months.
PetroAfrique’s Board has over 300 man-years of directly relevant Nigerian/African and international experience at Board level with African, Middle Eastern and global avenues for RBL, equity and hybrid funding. The team has been assembled within the over-arching requirements to have technical, social and business intelligence and competence.
Early cash flow from oil production to fund staged vertical (upstream and downstream) and geographical expansion into the pan-African context is our Company creed.
Nigeria is the starting point, where opportunities abound with established oil reserves and downstream gas to power and gas value adding industry expansion opportunities but there are many promising new frontiers in Africa opening up for the Company to expand into.
Ambitious gas exports from Nigeria in the form of LNG or via pipeline infrastructure such as the West African Pipeline and the proposed $20 Bn. Trans- Sahara Pipeline are laudable and arguably an essential cornerstone of Nigeria’s progressive energy management strategy, but fundamentally, in time, it is hoped that an increasingly higher proportion of gas will be utilised in the DOMGAS sector to boost industry. PetroAfrique plans to be a part of this and will undertake to do all it can to participate in gas monetisation strategies after the establishment of a solid bottom line of cash flow based on initial oil production.
The African Renaissance
Africa has the fastest growing middle class in the world and the ROR on foreign investment is the highest of all developing regions. Energy production across Africa is forecast to grow by 40% by 2030. The continent currently supplies approximately 11% and 7% of global oil and gas demand and contains 10 percent of the world’s proven oil and gas reserves.
Nigeria ranks number 1 in Sub Saharan Africa oil metrics and with over 40% of the continents oil production and over 55% of the oil reserves. Nigeria has 180tcf of proved gas reserves making Nigeria the 9th largest gas reserve holder in the World and largest in the African Continent.
DISCLAIMER : Whilst every care has been taken in the preparation of this material, PetroAfrique makes no guarantee as to the accuracy or currency of statements made herein and accordingly reserves the right to alter or modify this document from time to time. This is not a public prospectus and should not be relied upon for any investment decision. This document may contain reference to reserves, resources and forward looking statements which have not, unless otherwise stated, been independently verified.