Rich Glory Coin

A Security Debt Tokenization

About StormHarbour

StormHarbour Logo

StormHarbour is a client-focused investment banking partnership,
founded on the bases of Integrity, Trust and Global Expertise

Since 2010, StormHarbour’s Asian franchise has been focusing in private placement financing solutions, providing expertise in pricing and structuring with extensive distribution capabilities in Greater China, Japan, Korea, Australia and SE Asia, covering a wide spectrum of investors.

As an independent, client relationship driven business, we are transparent at every level of our business, from communication to pricing. We have experienced and knowledgeable teams completely focused on our clients’ needs.

StormHarbour is honored with the award of the 2012 Banker Magazine Innovative Boutique of the Year.

Key Strengths

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Global Market Connectivity

Seven offices worldwide, covering thousands of institutional counterparties, across all major global liquidity pools

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Experienced Team

160 hands-on industry and product veterans who have held leadership positions at some of the world’s largest financial institutions

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Worldwide Client Base

Trusted advisor to clients ranging from project & development sponsors to Fortune 500 corporations

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Client-Focused Business Model

Balance sheet light, conflict-free business model that places our clients’ interests first

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Broad Execution Capabilities

Actively pursue complex advisory and financing assignments that leverage our global platform

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Bespoke Approach

Customized analysis combined with real-time market insights drives our recommendations

Notable Transaction

Energy & Natural Resources
Hong Kong

USD 115 Million

Debt Restructuring Advisory

Sole Arranger & Joint Book Runner

France

Undisclosed Private Placement

Exclusive Placement Agent

Colombia

Sale of LUKOIL Overseas Colombia

Exclusive Financial Advisor

United States

USD 50 Million

Private Equity Placement

Co-Lead Placement Agent

Global Office Location

Global Investment Opportunity
New York London Lisbon Madrid Dubai Hong Kong Tokyo

Business Structure

Client-focused Investment Banking
Our Advisors
Guarantee of The Project Success
water1
Water Cheung
The Senior Partner and CEO, StormHabour, Asia Pacific
antonio1
Antonio Cacorino
The Managing Principal, StormHarbour, London
fredrick1
Fredrick J Chapey Jr
The Managing Principal, StormHarbour, New York
paulwang3
Paul Wang
The CEO of Rich Glory Internation Investment Limited
Our Tokens
What is Rich Glory Coin?

A Security Debt Tokenization

Fund raising of the oil field in Dagang Kongnan Block to increase the oil production capacity

 

Lead Consultant & Global Coordinator
coinstreet@4x
Project Facilitator
Fundergo logo

Background of Pan-China Resources Ltd

  • In 1997, Pan-China Resources Ltd (PCR) signed a 100% production sharing contract with PetroChina with a maximum term of 30 years.
  • PCR was designated as the contractor and operator to develop the Dagang Kongnan Block area.
  • Kongnan Block is in southern part of Bohai Bay Basin and is approximately 100 km south of Tianjin metropolis.
  • The product sharing contract is currently covering 3 areas and the Kongnan Block currently includes three sub block areas, which are Xixiepo (15.5 km2), Xiaoji (1.04  km2)  and  Duannan  (14.75  km2)  with  a  combined  total  area  of  31.29 km2.
  • With the steady production, Kongnan Block is less risky than oil fields in exploration stage. Hence with investments, growth of production is expected.
  • Summary of PCR’s Oil Reserves in Kongnan Block as of March 31, 2019
Oil Reserves Proven Proven +Probable Proven +Probable +Possible
Gross Field (MMbbl) 4.82 8.06 11.67
PCR’s Net Entitlement (MMbbl) 3.33 5.43 7.63

Production Summary

  • PCR has drilled 70 wells in Kongnan Block. The depth of reservoirs are around 2500-3000 meters, as of April 30, 2020
  • The project has 72 oil production wells, 12 water injection wells.
  • From Jan to May 2020, The cumulative oil production for Kongnan is 210,069 bbl.
2018 2019 2020, Jan-May
Gross Field (MMbbl) 1,414 1,626 1,203
PCR’s Net Entitlement (MMbbl) 953 1,315 983
The estimated oil reserves, on a gross basis:
Proved Reserves: 4.18MMbbl
Proved +Probable Reserves: 7.22MMbbl
Gross Possible Reserves are 3.67MMbbl
The average ultimate recovery factors for the Kongnan project November 2027:
Proved forecasts: 14.79%
Proved + Probable forecasts: 14.14%

UNIWE International Energy Limited has estimated the Market Value of PCR’s oil assets is between 

US$43 million and US$47 million.

Oil Sales

  • PCR has drilled 70 wells in Kongnan Block. The depth of reservoirs are around 2500-3000 meters, as of April 30, 2020.
  • PCR has drilled 70 wells in Kongnan Block. The depth of reservoirs are around 2500-3000 meters, as of April 30, 2020.
  • From Jan to May 2020, The cumulative oil production for Kongnan is 210,069 bbl.
2017
2018
2019
2020
Annual sales price (US/bbl) 54.17 71.34 64.26 44.97

Produced oil from Kongnan is being gathered in oil tanks placed at each oil producer well site, and each well has one or a pair of oil gathering tanks.

At that point, oil is passed through a flow meter and enters Dagang Oil Field joint gathering station.

The central processing facility of the Dagang Oil Field which is operated by PetroChina, a subsidiary of China National Petroleum Corporation (CNPC).

Kongnan Annual oil Sales Production Forecast (Gross Basis)

Year
Kongnan Annual Oil Sales Production Forecast (Gross Basis) (Bbl)
Proved
Probable
Possible
Proved + Probable
2020 653,098 21,624 16,320 674,722
2021 711,648 206,694 200,374 918,342
2022 712,788 539,682 575,183 1,252,470
2023 611,621 612,426 795,832 1,224,047

Base Price Forecasts as of December 31,2019

The international benchmark Brent crude oil price averaged US$64/bbl in 2019

  • Annual daily low: US$55/bbl in early January 2019
  • Annual daily high: US$75/bbl in late April 2019
  • Annual fluctuation range of US$20/bbl
Year Brent Oil Price by Sproule (US$/bbl) Brent Oil Price by Ryder Scott (US$/bbl) Brent Oil Price by UNIWE (US$/bbl) Oil sales Price Forecast for Kongnan Block (US$/bbl)
2020 65.00 67.20 60.00 53.08
2021 68.00 70.56 63.00 55.94
2022 70.00 72.60 65.00 57.80
2023 71.40 73.44 66.30 58.96
2024 72.83 74.20 67.63 60.13
2025 74.28 75.60 68.98 61.34
2026 75.77 78.23 70.36 62.56
2027 77.29 79.80 71.77 63.82

Disclaimer

This material is being provided to you at your request and is for your internal use only.  It has been prepared by individual sales, marketing and/or structuring personnel of StormHarbour Securities (Hong Kong) Limited and its affiliates and tied agents (collectively “StormHarbour”) and does not constitute research or investment advice.

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