Montreal, Quebec, February 9, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports : In January 2011, Ghana exported its first oil from the Jubilee oilfield and thus joined the exclusive club of oil exporting nations.
Tullow Oil was the first company to lift crude oil at the Jubilee Field during the first week of January this year. Reuters News Agency reported that US company Exxonmobil, which expressed interest sometime ago to buy Kosmos’ 30 per cent stake in the Jubilee oilfield was the first company to buy the cargo of Jubilee crude loading on 1-7 January and 8-18 January from trading companies Vitol and Trafigura.
Forecast estimate that Jubilee oilfields can produce 55,000 barrels of light sweet oil per day. With further development of more oil wells, production could reach 120,000 barrels per day. At that rate, Ghana would soon be awash with petro-dollars, which if properly managed, would provide much-needed funds for the development of infrastructure and enhance the living conditions of the people.
Before it struck oil, Ghana depended on cocoa and minerals like gold, diamond and bauxite as foreign exchange earners which it prudently utilized to build a fairly decent economy with a modest but steady four per cent yearly growth rate.
With democracy now well into the third decade under a succession of enlightened and committed leadership, the country is now being touted as a model for the continent. With new-found oil wealth, the future promises to be rosier.
Yet, if the experience of other oil producing countries on the continent such as Nigeria is anything to go by, a warning would be instructive to ensure that Ghana avoids the costly mistakes others made.
Ghana should be aware of the so-called ‘Dutch Disease which arises in countries such as Holland and Nigeria where huge wealth from mineral resources becomes a problem to manage.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
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HilbroyAdvisory, Inc.
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