First Colombia hunts O&G deals

Minerals player First Colombia Gold is planning to make a splash in the oil and gas arena with a number of planned acquisitions earmarked for later this year.

The Colombia-based company is hunting “one to three US oil and gas projects” this year alone, with the first acquisition set to be made in the third quarter.

Chief executive Robert Gates said: “Our current plans call for First Colombia to acquire a pipeline of oil and gas projects.”

A company statement continued: “Our business strategy is to acquire energy interests via a ‘roll-up’ strategy targeting potential and producing wells and distribution that can be improved utilising modern technology and capital infusion for expanding or re-initiating production.”

It is not just the US that the company is hunting oil and gas assets, as it looks for suitable projects in its international portfolio.

First Colombia also intends to complete the evaluation of European alternative energy projects this year and to make a decision on an initial project in that time. It is currently conducting due diligence on alternative energy projects in south-eastern Europe, thought to be Croatia.

First Colombia is focused on buying and developing natural resource, energy and real estate projects in the North America, Europe and South America.

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