RE:RE:RE:RE:FinancialsFrom the Renaissance Sedar filing...spring 2016...
Renaissance was awarded the Mundo Nuevo block with an additional royalty amount of 80.69%.
Renaissance was awarded the Topn block with an additional royalty amount of 78.79%.
Renaissance was awarded the Malva block with an additional royalty amount of 57.39%.
As was posted earlier, this allowed Renaissance Oil to get into Mexico's oil patch.
From MD&A Sept 2015
Development of the Company’s Business Renaissance is focused on establishing a high quality, diversified shale and mature fields portfolio for oil and gas development in Mexico and Spain. The Company has assembled a team of highly accomplished technical and financial experts, many of whom commenced working together in 2009, to develop Realm Energy International Corporation, until the company was successfully acquired in November 2011. The Company’s long-term objective is to become a significant participant in the Mexican energy landscape as the country enters into a new era, resulting from legislative changes, allowing direct foreign investment for the first time in 78 years. Renaissance, with technical and logistical support from Halliburton Energy Services Inc. (“Halliburton”), is evaluating prospects to invest, develop, and/or operate oil and gas exploration, development and/or production activities within Mexico. To initiate these strategies, Renaissance has completed an agreement with Halliburton, pursuant to which Renaissance is working with Halliburton to complete a comprehensive evaluation for feasibility and profitability of mature fields, bypassed discoveries and shale prospects in Mexico. This arrangement, which adds significant depth to Renaissance’s evolving technical team, includes petrophysical, geological, geophysical and geochemical analysis, as well as petroleum engineering and project management. Renaissance has continued to make significant progress along with its technical services partner, Halliburton, towards the evaluation and prioritization of petroleum fields in Mexico. Further, Renaissance has been active in 2015 in establishing key relationships and effective channels of communication through extensive high level meetings with various government agencies in Mexico, as well as with potential local partners for the development of business opportunities for the Company. The Company expects 2015 and 2016 to be a significant year as Mexico reforms its energy market, transitioning from the current PEMEX controlled industry to the allowance of private enterprises to make direct investments into oil and gas exploration and development.
Lukoil is awarded a service contract in July 2015 for the Amatitlan block...(and Lukoil is not known as a shale field developer)
President of PJSC “LUKOIL” Vagit Alekperov held a meeting with President of Mexico Enrique Pea Nieto, the country’s minister of finance, minister of energy and the CEO of the state oil company PEMEX.
The parties discussed the implementation of a joint project, the Amatitln Block which LUKOIL entered on the terms of a service contract with a 50% interest in July 2015, and the company’s participation in forthcoming bidding rounds. This resolution was positively received by the Government of Mexico.
So ROE personnel had been studying the 'cuts' that Halliburton had amassed from it's work in Mexico...Amatitlan the EF of Mexico...
From an article: in The Oil&Gas Year
What was the rationale behind joining Lukoil in the Amatitln block? Establishing operations in the Tampico-Misantla Basin is high on our list of priorities. We like the whole stratigraphic column in Tampico-Misantla and believe there’s a lot of undeveloped opportunity in the Chicontepec formation and below the Chicontepec, including the upper Jurassic shales. Lukoil held Amatitln in a 50/50 partnership with Marak Capital. They invited us to lead operations on the property as our success in Round 1.3 positioned Renaissance as a bonafide onshore operator in Mexico. We’ve been learning a lot since we acquired the properties, and Lukoil recognised what Renaissance could bring to the partnership. We’re also very strong in unconventionals. Our team has experienced much success in developing unconventionals, starting with commercialising the Barnett shales, the world’s first shale play. Lukoil was quick to recognise this strength, along with our ability to make decisions and move forward quickly.
So thru deft contracting, ROE was able to get themselves into a position where they have contractual opportunity to increase their portion of the Lukoil/Marak Amatitlan 60,000 acre block to 50%. This is 50% of Lukoil's original 50% split with Pemex or 25% of the total field output. As I understand it...
Go to ROE's website and view the presentation...worth the time...and the scoop it video of the June presentation by Steinke...