EXPLORATION AND PRODUCTION

Our 50% owned Petroleum Development International – (PDI) is the group’s E & P affiliate. PDI either directly or through an affiliate company explores or produces oil and gas with focus on the emerging markets in Africa, Asia, Latin America and S.E Asia.

 

PDI through its Nigeria affiliate, Bicontinental Nig. Ltd holds a 23.75% on OPL 252.  PDI affiliate, Tradewinds Oil and Gas owns and operates several oil fields in S.E Asia including the Ramok, Senanbang and Sukatani oilfields.  Tradewinds has interest in seven (7) fields and one (1) exploratory block.   Our international E & P operations focus on low-cost operations, growth in core areas and on smooth transfer of new venture projects into operations.

 

As of 2009, Bicontinental’s New Venture group currently has over 10 new projects in the “pipeline” that could provide significant additional market value.  These projects are focused on regions where energy demand growth is high.  We are working to develop projects that will link dynamic markets with economically attractive energy resources.  We look for clusters of opportunities or projects in areas with robust market or prolific resources. We seek entry points where we can add value and leverage our experience and performance for greater participation.  This entry strategy has worked for us and continues to work for us.

 

Our management believes it is possible to produce oil and gas thoughtfully and carefully protecting the beauty of our natural environment, while still meeting the world’s increasing need for energy.