Executive Summary

Executive Summary

Paret Petroleum (the Company) has successfully secured sizable mineral leases spanning onshore and offshore concessions of drilling rights in Haiti. Paret Petroleum will be the first company to drill for oil and gas in Haiti since 1979, and therefore has gained favorable support from Haiti's Ministry of Mining and Energy.

The Company is seeking to raise $50 million (USD) of equity & debt to commence full scale operations.

Upon completion of funding, the Company will complete seismic testing on the 1st 50 square miles of the concession: which is the primary area of interest (PAI). Depths of the preliminary test wells will be determined based on the results of seismic testing and analysis. Geologists speculate multi-producing zones on the concession, which typically indicates the terrain contains reserves at shallow and deep depths. Therefore at the beginning of exploration, depending on seismic results, the first wells will be drilled in the proximity of Hinche at 1,000 to 20,000 feet.

Management's team of geologists and scientists have estimated that deep onshore wells in Haiti have the potential to produce 2 to 5 thousand barrels a day each. In the event that only 6 deep wells are successful and producing, based on these estimates, it will give the Company a yearly gross revenue as follows:

@ $77.50 USD per barrel, 6 wells producing 2,500 barrels per day (bpd) each = 15,000 BPD, at 365 days = $424 million of gross revenue, net annualized revenue of $318 million after 25%+ government royalties and expenses. This revenue run rate will enable the Company the ability to sell these wells to one of the Oil Majors within the first 24 to 36 months of the investment time horizon, or to complete an IPO. 

Paret Petroleum's executive team and advisors include a strong team of oil and gas industry executives with extensive local Haiti knowledge, connections and prorietary realtionships in the government and industry sectors. The Petroleum Engineers and Geologists each have 45+ years' experience in evaluating potential oil fields, and producing oil fields. It is the calculating estimates of these oil & gas industry veterans which will direct the Company's efforts in targeting the primary areas for exploration.

The Company's projections support a revenue growth rate of 50% per year. The strategic plan calls for 20+ producing wells within the 3rd year of operations, which will enable the Company to produce 20,000 to 50,000 barrels per day and 500,000,000 mcf of gas per day which will be sold in Haiti, the Dominican Republic and neighboring countries.


Operations Plan

All equipment will be shipped to the port of Port-au-Prince, Haiti. Once equipment is in Haiti the land rig and all other materials will leave the Port and be transported to Hinche, Haiti for assembly. Set-up of land rigs should take 1 week, assembly manufacturer selected is American Fabrication. Wolverine Enterprises will be contracted to do drilling and engineering. Security will be provided by American Security. 

Housing for all land personnel will be built in Cul-de-Sac or Hinche depending on where the drilling is taking place. Complex will include housing, cafeteria, fitness Gym and medical facility. Estimated time for the prefab housing complex to be completed is 60 days. With completion of the housing infrastructure the Company will commence oil exploration in Haiti. Once oil is found, the Company will finalize well installing flow lines, pump-mechanisms, tanks and electrical engineering.


Seismic Services Revenues - mining, oil & gas, and govt quake analysis customers

The company's use of funds includes acquisition of 3 seismic vibrator trucks to conduct required seismic exploration. As an additional revenue stream the company will provide seismic services to 3rd parties when the equipment is not in use internally. Seismic evaluations in Haiti and the Dominican Republic will be a major technological advancement for the mining industry. This is an untapped market: mining on the Hispaniola Island has increased by 50% every year since 2009. The average cost of seismic evaluations onshore is between $30 to $100 thousand USD per square mile. The company's seismic exploration services offering leverages a team of industry experts utilizing state-of-the-art 3D technologies and processes.