Bearing Energy (Canada) Corp

Detailed scope:

Petrospec Engineering Ltd. was established in 1997 and is the leading provider of turn-key reservoir monitoring solutions to unconventional oil & gas companies in the in-situ oil sands and emerging unconventional resources globally. In addition to designing, manufacturing and installing down hole pressure, temperature and flow monitoring equipment, the Petrospec staff are highly regarded experts in well optimization, reservoir monitoring, engineering and field services to oil production companies across the globe.

Petrospec is interested in helping to incubate a start up Oil and Gas Exploration and Production company and sees Bearing Energy (Canada) Corp (BECC) as an ideal format through which to do this given:

• The opportunity to acquire what are essentially large, prospective long term concessions exists as present
• Acquiring the concessions from existing corporate entities is better than trying to invest in or acquire the existing corporate entity because there is too much existing stakeholder baggage to contend with
• The better capital risk strategy for developing Canadian heavy oil is to reduce the capital required to launch production by utilizing profits from the shorter term light shale oil concessions that are available 

For all of the above reasons, Petrospec determined that it should be proactive and start incubating the creation of BECC. 

DCC was engaged to:

• Act as CFO for BECC
• Construct and Develop an Integrtaed Economic/Financial Model including the Economic Model and Pro Forma Financial Statements to value the targeted BECC potential opportunities
• Develop Investor Presentations, Teasers and the Confidential Information Memorandum to be presented and sent to identified potential investors 
• Coordinate and Lead investor presentations and negotiations for BECC funding
• Participation and negotiation of terms to acquire/farm-in on potential properties, for both Light and Heavy Oil