ZPL Energy Acquires O&G Unit of Acme Logisitics Nigeria Ltd.
ZPL Energy LLC has acquired the Oil and Gas Division of Acme Logistics Nigeria Ltd and plans to begin operations during the second quarter of 2007. Acme Logistics has received an undisclosed sum along with shares in ZPL Energy LLC.
This acquisition will allow ZPL Nigeria Ltd. (ZPLN) to implement its plan to begin oil and gas operations in one of the most prolific areas of the world. Our company will develop, and manage assets in marginally designated blocks within the onshore, swamp and offshore areas of West Africa. We are currently researching and discussing opportunities to work with Nigerian owned oil and gas companies and will provide technical support, project financing, along with seismic, exploration, work-over and development drilling of existing marginal fields. ZPLN shall also prepare production facilities, pipelines, and provide for the economic stability of the communities the new company plans to be involved with on a daily basis, stated Mr. Ethridge Kyle, President of ZPLN.
Mr. Kyle's resume includes; President & Managing Director of Acme Logistics Nigeria Ltd. He is also a Director of DWC Drilling Ltd and owns several oil related companies both in West Africa and the United States. Mr. Kyle brings many years of hands on technical expertise and superb management skills to the Oil and Gas operations.
ZPLN will also complete a joint operational alliance with Acme Logistics Nigeria Ltd the parent corporation of AOG to provide their expertise in drilling products such as casing, tubing and completion equipment for the day-to-day operation. ZPLN will utilize the offices of AOG in Port Harcourt Nigeria along with storage facilities currently owned by Acme Logistics.
Ms. Meagan Ware, Senior VP of International Development for ZPL Energy, stated; "We are pleased to announce this exciting addition to our current operations which will provide an opportunity to increase reserve base, production rates and revenue". "The acquisition and subsequent joint alliance agreements will allow ZPLN to fast track toward production startup during the second quarter of 2007 while development drilling and completion programs are expected to commence during the third quarter."
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