Effective July 21, 2008, Bald Eagle Energy began trading on the NASDAQ OTC BB exchange under the symbol 'BEEI.' Upon establishing itself with a new land position on Alaska's North Slope, the Company changed its name from Columbus Ventures Inc. to better reflect its new direction and business venture.
Bald Eagle holds a 100% Working Interest (WI) in six separate leases on Alaska's North Slope. Acquired through a Purchase Agreement signed in the first quarter of 2008, the six leases total 18,418 acres located east of the Arctic Fortitude Unit and south of the Prudhoe Bay Unit, which has produced in excess of 10 billion barrels of oil from North America's largest oil field – The Prudhoe Bay Field. The Company's land position is surrounded by large industry players BP, ExxonMobil, ConocoPhillips, Chevron and Anadarko, while being within range of important infrastructure such as the Trans Alaska Pipeline and the Dalton Highway.
Based in Dallas, Texas, Bald Eagle was formed in response to America's current oil crisis with intention toward enhancing America's energy independence. The Company's business model revolves around a commitment to decreasing America's petroleum shortfall and foreign oil dependence through developing Alaska's vast energy resources.
Alvaro Vollmers, Chief Financial Officer of Bald Eagle, stated, "Our company's primary area of interest is located near the largest oil field in North America, which has garnered much attention attracting many of the best people in the business. This allows us to enlist industry experts as consultants and third-party drilling companies with significant industry knowledge of Alaska, while reducing costs through keeping a minimum-sized experienced management team. We see the opportunity we have in Alaska as a prospect for long-term shareholder growth with the significant upside of our proximity to the Prudhoe Bay Field."
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