Thursday, March 29, 2007

Equator Exploration Limited

Industry: Mining

Main business locations: West Africa

Registered Office:
Craigmuir Chambers
PO Box 71, Road Town, Tortola
British Virgin Islands

Incorporation year: 2000

Financial highlights:
Total Assets: (2005) USD 194,061,000
Capital reserves: (2005) USD 203,342,000
Loss: (2005) USD 3,713,000
(the company currently invests in exploration)

Auditors: Chantrey Vellacott DFK

UK Solicitors: Pinsent Masons

Main shareholders:
Morstan Nominees Ltd
Bear Stearns Securities Corp
Goldman Sachs Securities (Nominees) Ltd
Barclays Capital Nominees Ltd
The Bank of New York (Nominees) Ltd
HSBC Global Custody Nominee (UK) Ltd
Lehman Brothers International (Europe)

About the BVI company:

Equator Exploration Limited is engaged in the exploration and development of oil and gas projects in the highly prospective region of West Africa. The company is building a diversified portfolio of exploration, appraisal and production assets in the region. Currently Equator's efforts are focused in the Gulf of Guinea, and recently the company completed drilling its third well on offshore Nigeria. Equator also owns rights to acquire a 100% interest in two blocks of its choice in the territorial waters, and continues to evaluate other exploration opportunities in this region.

West Africa is considered to be one of the most prospective offshore deepwater exploration and production regions. Equator's strategy is to identify, acquire and explore high quality prospects with the potential for large oil and gas reserves, mainly in West Africa. The company also gets revenue from the marketing and sale of seismic data that it has acquired jointly with PGS Exploration (UK) Limited.

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