Arkanova Energy Corp. (akva.ob)
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- Current Projects: Arkanova has obtained property interests in oil and gas properties located in three counties in the State of Arkansas based on management’s determination that these property interests and the oil and gas industry in general offer significant opportunities for the Company to maximize shareholder value. At present, the Company has decided to focus on the exploration and development of its property interests in the Phillips and Monroe Counties, Arkansas. The first well, the DB Griffin #1-33, has been drilled to a total depth of 7,732 feet on November 29, 2007 and is being evaluated.
- Relentless Demand: Oil and gas currently account for more than half of global energy supply, and fossil fuels are expected to continue to be the main source for world energy well into the 20th century (Source: International Energy Agency). Worldwatch Institute notes oil production is in decline in 33 of the 48 largest oil-producing countries (Source: Worldwatch Institute), but energy demand is increasing around the globe. By 2020, some predict that the world's energy consumption will be 40% higher than it is today (Source: World Energy Outlook 2004). The total global oil and gas consumption is 127.8 million barrels per day, or 1,480 barrels per second (Source: OPEC.org). Platina Energy Group is working to fulfill this tremendous and growing demand in innovative ways that produce minimal environmental impact. Also, global consumption of natural gas is expected to increase more in absolute terms than that of any other primary energy source, almost doubling to 4,900 bcm in 2030. Demand for natural gas is projected to grow 2.8% annually through 2025, faster even than projected demand for oil (Source: International Energy Agency). In particular, demand for natural gas in Canada, the United States, and Mexico is increasing. In the United States, 60% of all homes are heated with gas, and 70% of new homes are designed for natural gas consumption.
- Time Tested Strategy: Arkanova utilizes a proven criteria set to evaluate acquisition targets effectively and to then systematically develop prospects using calculated exploitation strategies, new drilling and development technologies, existing infrastructure, industry co-operation and effective cost reduction initiatives. The Company continually works with numerous financing resources that are tailored to its acquisition strategies using various financial instruments that best define all parties' requirements to ensure that capital needs are met. Arkanova features a highly experienced team that has devoted its entire collective energy to finding and structuring attractive oil and gas investment opportunities and then extracting maximal value from them. The Company’s overriding goal is to create long-term value for investors by building a significant onshore oil and natural gas resource base. Arkanova is pursuing this goal by integrating an aggressive and technologically advanced drilling program with a focused acquisition program targeting small to mid-sized assets funded by a reinvestment of net cash flows and a mix of debt and equity.
