EPI (Holdings) Limited (“EPI” or the “Company”) is a company that is listed on the Main Board of the Hong Kong Stock Exchange (00689.HK). EPI is focused on the exploration and production of oil and gas in the conventional upstream oil and gas sector. Currently, the Company has oil-producing assets in Argentina.
EPI has commenced its oil exploration and production business since November 2009 with its first acquisition project, the ‘Mendoza Oilfield Project’ in the Puesto Pozo Cercado (“PPC”) Concession and Chañares Herrados (“CH”) Concession at Cuyana Basin, Mendoza Province of Argentina. This Mendoza Oilfield Project was an initiating transformation for EPI. Within two years of acquiring this project, we have completed drilling 10 oil wells with 8 wells in production. As at December 31st 2012, all of the 10 oil wells have commenced production. Out of the 10 wells, 5 were drilled by EPI’s subsidiary Have Result Investments Limited (“Have Result”) for which EPI is entitled to a 51% interest on production. The other 5 wells were drilled by EPI’s other subsidiary EP Energy S.A. (“EP Energy”) for which EPI is entitled to a 72% interest on production. In the year 2012, we performed 7 workover jobs on these oil wells. Our management expects the Company to reap steady growth in the future with the existing oil-producing assets.
Moving forward, EPI is progressively seeking possible strategic acquisition opportunities that have upside potentials. The Group has recently engaged the money lending business and the interest income is broadening the profit base of the Group, which maximize the benefits of the Company and its shareholders as a whole so as to bring a sustainable return to increase our shareholders value.