Meren Energy Inc. Stock Analysis MER.TO

Meren Energy, Inc. is an oil and gas company that engages in the acquisition, exploration, development, and production of oil and gas assets. The company is headquartered in Vancouver, British Columbia and currently employs 50 full-time employees. Its main assets are producing and developing assets in deepwater Nigeria operated by Majors. The firm holds a position in the Orange Basin, including its interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa. The company has a direct interest in producing assets in Nigeria's deepwater Niger Delta Basin. The main assets of the Company are a direct 8% WI in PML 52 and a direct 32% WI in PMLs 2, 3 and 4 as well as PPL 261. PML 52 is operated by affiliates of Chevron and covers part of the producing Agbami field. The company has indirect interests in Block 2912 and Block 2913B through a 39.5% shareholding in its investee company, Impact Oil & Gas Limited. The firm holds 80% operating interests in each block, EG-18 and EG-31. The company holds a direct non-operated 18.0% interest in Block 3B/4B.