With RE's Louisiana asset base and capital requested through this business plan, BR expects to become an industry leader in finding and replacement cost for oil and gas reserves while providing a safe work environment, maintaining its social conscience to the community and adhering to state, federal, and international regulations.
Our financial objective is to have a market capitalization over $250 Million within 12
months and through a systematically and carefully planned growth program, reach a goal of $500 Million or more within three years. Over that period, we would like to see gross margins improving while keeping selling, general and administrative costs to a minimum and maintaining a strong balance sheet. Our initial goal of $250 Million can be accomplished by developing our existing asset base while our three year plan will require a selective acquisition program.
We have always believed that in order to succeed and provide abnormal returns to our shareholders, we must differentiate ourselves from our competition. Characteristics that distinguish us include:
a. Company resources and capital focused primarily in areas of expertise including the Texas and Louisiana Gulf Coast.
b. A management team with superior technical abilities as well as extensive experience in energy capital markets.
c. A management team with an excellent reputation in the industry and extensive contacts with senior management of independent and major oil companies allowing an ability to secure private negotiated acquisitions.
d. Operate under a very streamlined management structure which provides the ability to make decisions very quickly to secure distressed opportunities.
e. Maintain a low overhead in order to weather the down cycles that inevitably occurs in the oil and gas industry.
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