Century Petroleum Corp. was founded in December 2004. The company basically explores and produces oil and gas. The major focus of the company is to acquire and explore the oil and gas properties for the discovery of the profitable oil and gas reserves. The company is interested in the following prospects with regard to its work segment:
- the Thunder Stud Prospect (Calcasieu Parish, Louisiana)
- the Alligator Bayou Prospect (Matagorda and Brazoria countries, Texas)
- the EI Grande and Hickory Branch Prospects (Beauregard Parish, Louisiana)
- the Shadyside Farm Prospect (St. Mary Parish, Louisiana)
CYPE has recently announced the entry to a binding letter agreement with a leading Nigeria based Cement Company Ibeto Cement Company Limited. The proposed transaction is the reverse taking over of the Century Petroleum by shareholders of Ibeto. Mandala Gwadiso has been appointed as the new Chairman and CEO of the company on May 24, 2018. Ibeto Cement Company Ltd. is a private company under Nigerian laws and it is one of the fastest growing cement industries in Africa. The company has two major plants in Nigeria and each one sits on the abundant deposit or reserve of quality limestone.
The reverse merger with Century Petroleum Corporation is a significant step for the company to become a public sector organization and it is the major element in the growth strategy. This is a great opportunity for Ibeto to capitalize on the growing demand for high-quality and cost-effective industry products on a global basis.
The strategy has the extensive development of Cement business in Nigeria and other African regions. The approach is to make affordable cement available to the Nigerians so that they are able to afford constructions in the comfortable mode. The cement business is profitable in Africa than crude oil where the investment is thought to be highly profitable. The reverse merger of cement and oil sector companies will help in accomplishing the objective.
Century Petroleum Limited has risen to a level of about $ 0.60 (highest point) from the zero level in stocks. Cletus Ibeto is the Chairman of the board and he has promised a great success to the company’s present status. It is projected that the company will have high trading volumes with the developments in their industry. CYPE is a dynamic junior oil and gas exploration company having a huge scope in the market for discovery in South American states. The near-term shareholder value focuses the activities in hydrocarbon basis.
The present market cap of the company is $ 9.79 M and its probability is to grow with the upcoming ventures. The company is headquartered in Las Vegas, NV. The lowest point of the company’s stock value was in December 2017 and it is growing from that situation to become a positive sector. With the ongoing mergers, it is expected that the company will get a positive response in the times to come. The trading value is increasing and the scope of company’s progress in stocks is highly predicted by the companies.