| Proposed
NSX Code: |
CCT |
|
| Proposed
Listing Date: |
October 2002 (to be confirmed) |
| Issue
Price: |
0.10 |
|
|
| Issue Type: |
Equity |
|
|
| Capital to
be raised: |
$1,500,000 |
|
|
| Offer
Underwriter(s): |
Cameron Stockbrokers Limited |
|
|
| Offer
Broker(s): |
Cameron Stockbrokers Limited |
|
|
| Synopsis of
Listing: |
CHAIRMANS EXTRACT
Dear Investor,
On behalf of the Board of Directors, I am pleased to offer you the opportunity to invest in Concentrated Capital Limited (�the Company�).
The purpose of the Issue is primarily to raise funds to farm into 2 projects in the USA that the Directors
consider as highly prospective. These are the Swearingen Project in Illinois and the West Pine Ridge
Project in Colorado.
These projects take advantage of the lower drilling and operating costs in the extensively developed
basins in the US and a more favourable taxation regime when compared to Australia.
Additionally, infrastructure in these established basins is highly intensive with development being comparatively cheap. Finally, within these basins, geology and available data enable good well control and create a
highly prospective environment for project selection. Given the quality of project management in relation to each project, the Company does not require full time staff in the US.
Each of these projects is ready, or near ready to drill, and reports in respect to each of them form part of this Prospectus.
The Swearingen Project is stated by Schlumberger to contain probable reserves of 1.25 Billion Cubic Feet (BCF) gas and will be managed and operated by Team Energy, LLC ("Team"). Immediately
underlying the known probable reserves of gas is a known oil zone with a depth of approximately 20' and below that are a series of zones, which may contain multistacked reservoirs.
The West Pine Ridge Project has the potential for discovery of between 45BCF gas and 92 BCF gas (7.5 million to 15.4 million barrels of oil equivalent) in the Almond Sand (the primary target zone) and a further equivalent amount in the Lower Mesaverde Sand to give potential total reserves of between 90BCF gas and 184 BCF gas (15 million to 30.8 million barrels of oil equivalent). This project is more speculative
than the Swearingen Project, but, with greater potential upside. It will be under the control of Avalon Oil and Gas Group, (�Avalon�) which will also either operate the project or otherwise appoint a project operator. Drilling is planned to commence in September 2002.
The coal project in the Surat in Queensland is a longer-term project and is stated by the consulting geologist to contain in excess of 64 million tonnes of 2 nd Class Indicated Reserves as delineated by drilling by Shell Australia. Additional coal resources are included in the areas of the application.
The Company is a pooled development fund offering its shareholders the potential tax benefits referred to in Ernst & Young's report.
As in any oil and gas exploration there are inherent risks. Any person interested in investing in the Company after receiving this Prospectus should seek their own professional advice, indeed I encourage them to do so.
I believe that this is an excellent opportunity to invest in prospective resource based projects in the US and Australia and am happy to commend the Company to you on behalf of the Board.
Yours faithfully,
Hamish Giles
Chairman |
|
|
|
Offer Document:
|
# Please contact a Broker or the NSX
|
|
|
| Issuer:
Concentrated Capital Limited
|
| Address: |
c/- Salomon Giles Pty Ltd Level 2
409 St Kilda Road
Melbourne VIC Australia 3004
|
|
|
|
ACN:
|
087 730 667
|
|
|
| Company
Base: |
Australia |
|
|
| Web: |
http://www.concentratedcapital.com.au
|
|
|
| Email: |
admin@concentratedcapital.com.au
|
|
|
| Chairman |
Hamish M Giles |
|
|
| Managing
Director / CEO: |
|
|
|
| Directors: |
Hamish Giles
Andrew M Grace
David F Gibbs
Ravid R Rose |
|
|
| Company
secretary: |
Stephen K Danne |
|
|
| Bankers: |
National Australia Bank
471 Collins Street
MELBOURNE VIC 3000 |
|
|
| Solicitors: |
Corrs Chambers Westgath |
|
|
| Advisers: |
Salomon Giles Pty Ltd
Level 2
409 St Kilda Road
Melbourne VIC 3004 |
|
|
| Brokers: |
Cameron Stockbrokers Limited
Level 5
10 Spring Street
SYDNEY NSW 2000 |
|
|
| Share
Registry: |
Computershare Investor Services Pty Ltd
Level 12
565 Bourke Street
Melbourne VIC 3000 |
|
|
| Accountants: |
Ernst & Young
Level 23
120 Collins Street
Melbourne VIC 3000 |
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FLOAT
DETAILS 
