EborOil

www.eboroil.com

 

Following a lengthy investment review period spanning late 2007 to early 2008, Acura’s CEO Mike Jordan was appointed as Managing Director of the board of the EborOil Group subsidiary, EborDiesel Limited in February 2008.

 

Since this time, Acura’s involvement in the Eboroil Group has expanded across all its operations and subsidiaries with Acura successfully making an equity investment in April 2008.

 

May 2008 saw EborOil secure a 20 year, $600 Million financing Facility from a Swiss investor group and in October 2008, Mike Jordan agreed to his appointment as CEO of EborOil. He will lead a team of directors in the allocation and management of funds.

 

Mike Jordan was said to be “delighted at his appointment” and felt that Acura’s involvement in EborOil was the start of a “very serious investment opportunity”.

 

EborOil Chairman, Anthony Haynes added “with Mike Jordan and his team at Acura, we have secured a wealth of environmental and business management skills. I have every confidence that together, we can deliver this very significant business opportunity”.

 

In parallel with the CEO appointment, Acura has also secured extensive share options in each of the four EborOil Investment subsidiaries together with a 20 year management contract and profits sharing agreement.

 

Eboroil will be positioned as a controlling investor in energy projects where technical knowledge enhances the value of the energy source. Investment areas currently include:

 

EborEnergy - conventional oil & gas

EborTechnology - production and sale of hydrocarbons using non-conventional technology

EborRenewables - small hydro electric projects, wave energy and electricity generation using unidirectional currents

Multi Operational Service Tankers – increased production rates and oil recovery offshore using underbalanced drilling and intervening throughout the life of the oil field