RE: Ejl28 Jun 2014 20:21
the recent results RNS does provide further info re JV partners including Nogal, & certainly counts imv as very helpful 'clarification' for newbies trying to work out what astar is up to, and who with:
"In May 2014, we executed a joint venture with Nogal Holdings LLC ("Nogal Holdings"), which also covered Nogal Energy Partners LLC ("Nogal Energy Partners"), a related company by virtue of its common directors and shareholders, to assist with the new strategy of gaining exposure to the deregulating Mexican oil and gas sector. Both companies are run by the same principals who are highly experienced oil and gas personnel, the CEO having previously spent 20 years working for Lewis Energy Group, most recently as COO for Latin America. In this role he was involved in all areas of oil field operations, including designing and supervising drilling and completion of the first Eagle Ford well in Mexico jointly with Pemex.
The two companies have a number of affiliate and subsidiary companies focused on the oil and gas industry, the personnel of which varies depending on the activity but all have in common the principals of Nogal Holdings. The subsidiaries of Nogal Energy Partners includes Nogal Energy LLC, whose trading subsidiary is TripleT Coil Tubing LLC ("Triple T"). Triple T has executed multiple master service agreements with a number of significant oil and gas operators to whom it has delivered oil services. These include BHP Billiton, Lewis Energy, Apache Corporation, Halcon Resources Corporation, Sanchez Oil and Gas, Venado Oil & Gas, Hilcorp Energy and Hopewell Operating."
*but* although that is helpful additional public information and detail for shareholders, the RNS does *not* state any error, mistakes. nor need for correction of any previous RNS. nor any apology.
as usual, it's just winnifrith talking sh*t.
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