BCM Energy Partners Assumes Management and Board Control of Aeon Holdings Through a Reverse Merger to Facilitate U.S. Gulf Coast Acquisition Strategy
METAIRIE, La., Jan. 18, 2011 /PRNewswire/ — Privately-owned BCM Energy Partners, LLC., an acquisition and development company focused on ‘rolling-up’ distressed and undervalued oil and gas assets in the U.S. Gulf Coast region and Aeon Holdings, Inc. (Pink Sheets: AEOH) announced today that they have signed a definitive purchase and sale agreement under which Metairie-based BCM Energy Partners will sell all of its assets through a reverse merger agreement with Aeon Holdings, Inc, with the newly capitalized entity renamed BCM Energy Partners, Inc.
The Company currently owns and operates a producing oil field in East Baton Rouge Parish, Louisiana with 14 leases covering approximately 300 gross acres and over 950,000 barrels of oil (proved). Internal engineering data indicates an estimated $6,400,000 (Proved – PV10) and $18,000,000 (Probable – PV10).
“The reverse merger of Aeon Holdings provides BCM with the public currency that we require to facilitate our aggressive acquisition campaign. There is an abundance of attractive assets for sale within our geographic focus and this deal will prove to be the first of many,” Dr. Bailey said. “We remain focused on proven reservoirs where we have extensive relationships with experienced operators, engineers and geologists.”
David Beach, founder of BCM Energy stated: “BCM Energy seeks to acquire and develop older field with producing wells in an attempt to develop these resources while mitigating future environmental issues, and we’ve got more deals to review than hours in the day.”
SHAREHOLDERS ARE URGED TO READ ALL PUBLIC FILINGS CAREFULLY WHEN AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION THAT SHAREHOLDERS SHOULD CONSIDER BEFORE INVESTING.
About BCM Energy Partners, Inc.
BCM Energy Partners was established to acquire distressed oil and gas assets with the intent to build a portfolio of proven reserves associated with producing wells. Since late 2007, BCM Energy Partners has been actively developing a network of field owners and managers throughout the Gulf Coast with a focus on identifying distressed, “off-the-radar” opportunities. BCM has an effective management team that is well-connected within the Gulf Coast oil and gas industry with over 100 years of collective experience acquiring and exploiting oil and gas assets. Management is supported by impressive roster of equity-incentivized advisors from the corporate finance and energy industries. More information is available at www.BCMEnergy.com.
Forward-looking statements speak only as to the date they are made, and except for any obligation under the U.S. federal securities laws, BCM Energy Partners undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
SOURCE BCM Energy Partners, Inc.