GREY:NKRSF - Post by User
Post by
Bigwhiskeyon Mar 13, 2016 4:25pm
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Post# 24653503
Moke and Mirrors
Moke and Mirrors Niko acquired Black Gold in 2009 for $310 million, doubling its acreage position in Indonesia and adding important technology and personnel Black Gold was formed by the former heads of Unocal Asia with financing from Goldman Sachs & Temasek − Temasek financed Niko’s acquisition with a $310mm convert struck at $110.50 Unocal was the most active exploration company in Southeast Asia when it was acquired by Chevron in 2005 for $20 billion − The Black Gold team has drilled approximately ½ of all deepwater exploration wells in Asia over the last 10 years Black Gold brought its multi-beam expertise & Sea Seep technology − Black Gold saw a unique opportunity in Indonesia to demonstrate the value of its multi-beam and Sea Seep technology We believe the combined team places Niko among the world leaders in deepwater drilling expertise