Objectives and Strategies
Pyramid will strive to create sustainable growth in reserves, production, and cash flow through:
- Solid cash flow with low risk development potential from the Gulf of Mexico assets;
- Exploration drilling for prospects in the Gulf of Mexico based on 3D seismic;
- Negotiating the acquisition of working interests in Gulf of Mexico and high quality international exploration and development projects. This process requires careful selection of quality projects and the Pyramid team has the experience required to do this.
Pyramid intends to reduce capital expenditures risk by adopting a portfolio approach.
Near-term goals:
- TSX [Toronto Stock Exchange] listing
- Work-overs and drilling in Gulf of Mexico
Long-term goal:
- Build a company that is attractive for an accretive divestiture or merger
Highlights
- Experienced management team
- Diversified production base
- 1,300 boepd net to the company’s working interest
- Additional production behind pipe and 225 boepd planned for acquisition
- 40% oil and 60% gas production
- Near term growth through acquisitions, exploitation and exploration