• CIIX subsidiary ChineseHempOil.com, Inc. offers bitcoin as part of special holiday hemp oil packages
• CIIX is committed to bitcoin education, with daily video broadcast from the NYSE titled ‘Bitcoin Multimillionaire’ aimed at international Chinese-speaking audience
• Company plans to register wholly-owned subsidiary, ChineseHempOil.com, Inc., as a separate publicly traded entity on the OTCQB exchange

ChineseInvestors.com (OTCQB: CIIX) has combined its OptHempOil holiday promotions with premium incentives in the form of $50 and $150 in bitcoin. Bitcoin incentives are key to its promotion, offered through January 9, 2018, combining holiday packages with the cryptocurrency. It says the promotion is in recognition of California’s legalization of recreational marijuana in 2018 (http://dtn.fm/zYwx0).

“We’re celebrating the legalization of marijuana in California and the health and welfare benefits it brings to our state with a special sale that offers you health and wealth benefits at the same time,” the company announced (http://dtn.fm/1cKUh). CIIX noted that bitcoin gained 900 percent in value in 2017. In addition, package buyers can earn more bitcoin through the firm’s referral program — worth up to 10 percent of the value of hemp oil bought by new customers referred by buyers of holiday packages.

CIIX is a company with diverse operations. It has a core financial education business and ChineseHempOil.com, and it is also committed to bitcoin, with a daily video emanating from the NYSE titled ‘Bitcoin Multimillionaire’. The company’s target audience is the Chinese-speaking population in China and North America, and it seeks greater than 100 percent YOY revenue growth in 2018. A South China Morning Post article calls China a cannabis superpower, stating that more than half of the global 600-plus patents related to marijuana plants and cannabis are now held in China, according to the World Intellectual Property Organization (http://dtn.fm/5sf3Y).

CIIX also recently announced plans to register ChineseHempOil.com as a separate public entity on the OTCQB trading exchange (http://dtn.fm/grSZ2). ChineseHempOil.com offers a variety of cannabidiol (CBD) hemp oil products. These include OptHemp Ultra Premium oil and peppermint flavored hemp oil in softgels and gummies. It also offers a Gold Plus line of premium hemp oil.

For more information, visit the company’s website at www.ChineseInvestors.com

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• 2018 is expected to bring further fintech growth worldwide
• Global Payout services empower global industries through chain finance solutions
• Global Reserve Platform and new subsidiary will target logistics and shipping payment needs

As fintech industries enter the new year, corporate entities building blockchain capacity such as Global Payout, Inc. (OTC: GOHE) are looking for blue sky opportunities in the rising popularity of cryptocurrency as a means of financing international commerce, as well as providing e-commerce accessibility to the most remote of rural enterprises.

A Forbes report found that political-economic uncertainty over recent governments’ efforts to limit foreign influences and tie their administrations more closely to localized nationalist sentiments may drive further interest in cryptocurrencies that businesses can use to break down cross-border barriers (http://dtn.fm/86YaW). Expatriates from a variety of countries are turning to blockchain-powered fintech companies to send funds earned from their employment homes to loved ones in their nation of origin.

Amid the ongoing sea change in the global payment industry as institutions seek ways to boost instantaneous transnational accessibility and lower cross-border transaction-related costs, Global Payout is expressing excitement about an “especially active, yet successful” year for the company and its majority-owned subsidiary, MoneyTrac Technology, Inc., which is establishing a crypto-financial network geared toward the regionally legalized recreational cannabis industry.

Last year, Global Payout launched the Global Reserve Platform (“GRP”), which it describes as a customizable, “banking-in-a-box” system that offers resources for front-to-back office processing in domestic, foreign exchange and international payment services (http://dtn.fm/Uqb1Y). In December, the company announced plans to launch a new subsidiary early this year focused on delivering chain finance solutions for the logistics industry. The new subsidiary will use a single client interface to simplify payments on a domestic and foreign exchange level and to eliminate barriers for working capital financing.

“Blockchain technology has the potential to lead a major shift in the systems that are used to manage every process that is involved with managing the logistics supply chain. By spinning-out a subsidiary whose sole focus will be on advancing the development of a secure and highly-efficient blockchain system, I am confident we will be able to deliver an intuitive logistics network that will contribute to revolutionizing the entire industry,” company President William Rochfort stated in a news release announcing the plans (http://dtn.fm/Euz8V).

The news release states that the United States is increasingly dependent on global supply chains for goods and services and that freight movement and related logistics comprise a $1.5 trillion industry in that nation alone. Global Payout’s experience with blockchain technology is something it can leverage in providing solutions to a massive industry struggling to keep up with the demands on software systems that such a wide-reaching supply network creates.

The success of cryptocurrencies, even amid recent market fluctuations in bitcoin trading (http://dtn.fm/1euPz), shows a worldwide market eager to embrace alternatives to standard banking options and the dissonance between nations’ currencies. Cannabis-related industries, in particular, see cryptocurrencies as an essential part of their commerce, since many countries, including the United States, continue to regard the drug as potent enough to regulate or ban despite acceptance in select regions on a more localized government basis (http://dtn.fm/eXW20), which shuts them out from bank industry benefits. GOHE’s MoneyTrac spinoff is positioned to handle regulatory compliance and the transaction tracking needs for these companies. Working with affiliated partnerships, MoneyTrac empowers cannabis industry merchants to access an audited, legally compliant financial system.

For more information, visit the company’s website at www.GlobalPayout.com

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• NETE received $2,683,835 from sales of common stock in multiple transactions with Cobblestone Capital Partners, LLC
• Proceeds are expected to be used for working capital and general corporate purposes
• NETE recently launched new blockchain-based business unit to provide value-added services and transaction support in the cryptocurrency market

Net Element, Inc. (NASDAQ: NETE) has received $2.7 million from its share sale, aggregating an additional 536,767 common shares to Cobblestone Capital Partners, LLC in multiple transactions, it disclosed in an SEC 8K filing on December 26, 2017 (http://dtn.fm/jN4es). NETE is expected to use net proceeds for working capital and general corporate purposes, its prospectus said (http://dtn.fm/B4w7U).

NETE is a global financial technology and value-added solutions group that supports companies in accepting electronic payments in an omni-channel environment spanning across point-of-sale terminals and mobile devices. It maintains three segments: Mobile Payment Solutions, Online Payment Solutions and North America Transaction Solutions. It offers cloud-based proprietary technology products.

Most recently, it launched a new blockchain-based business unit designed to improve the efficiency and simplicity of transactions between buyers and merchants. It will operate in the cryptocurrency market, offering innovative digital payment methods and value-added services, according to NETE CEO Oleg Firer. The new unit will operate in partnership with Bunker Capital.

Firer added that he believes we are at the dawn of an evolution that focuses on innovative digital payment methods (http://dtn.fm/18oEj). The goal of the company’s new blockchain unit is to provide compliance assurance and transparency in cryptocurrency transactions. Further, it will enable the provision of value-added services to some 20 million ecommerce clients who are already utilizing Net Element services. NETE also offers analytical tools, online payment methods and technologies in mobile transactions.

For more information, visit the company’s website at www.NetElement.com

• LXRP awarded broad-ranging U.S. patent for novel DehydraTECH™ drug delivery system
• Already scientifically proven to increase efficacy of cannabinoids
• IP protection opens myriad business opportunities

Food bioscience company Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) just hit another major milestone in the disruption of drug delivery and administration. With 19 international patent applications filed encompassing 44 countries, Lexaria recently announced its reception of a broad-ranging U.S. patent award for its DehydraTECH™ as a delivery platform for a wide variety of active pharmaceutical ingredients (http://dtn.fm/Dp5EG). The U.S. patent covers all cannabinoids including THC, fat soluble vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”) and nicotine. As the ramifications of this milestone begin to reverberate in the market, Lexaria is continuing to advance all of its other patent applications around the world while leveraging its patent success in the U.S.

Award of the patents come as little surprise, since Lexaria’s DehydraTECH™ technology has been laboratory and market proven to enhance the performance of beneficial compounds in ingestible products. The speed with which the patent was awarded and the breadth of its utilization in other sectors could be viewed as an indication of the importance of the technology. Lexaria’s lipophilic delivery platform, scientifically shown to enhance absorption of orally-ingested cannabinoids, is believed to be applicable across a wide range of different vitamins, drug types and various cannabinoids, dramatically impacting bioabsorption and bioavailability, as well as taste, smell and speed of action. The recently granted U.S. patent solidifies Lexaria’s position as a disruptive force in innovative drug delivery platforms.

In a news release, Chief Executive Officer Chris Bunka stated, “Lexaria has now locked-up the IP for its next-generation drug delivery system. This ground-breaking, patented IP builds a foundation for new business opportunities in 2018 including what could be the world’s first nicotine edibles for the smokeless tobacco industry, or improved new products for NSAID-derived pain management, as well as in the rapidly growing cannabis market.”

Lexaria’s DehydraTECH™ technology is a potential game changer for the delivery methodologies of many commonly used active pharmaceutical substances. The technology provides an additional layer of effectiveness designed to harmonize with the intellectual properties of manufacturers and can be used with both patented and generic pharmaceutical substances. This breakthrough plays into Lexaria’s long term strategy to partner with leading pharmaceutical, biopharma, nutraceutical, vitamin and food companies to make payload delivery more predictable, safer and more effective.

For more information, visit the company’s website at www.LexariaBioscience.com

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• Premium cannabis lifestyle brand founded by team that started SAXX Underwear®
• One of only 26 Health Canada licensed cannabis production facilities
• Canada’s recreational marijuana market estimated at up to $8.7 billion
• Initial cannabis harvests are complete; awaiting Health Canada pre-sales inspection

DOJA Cannabis Company Ltd. (CSE: DOJA) (OTC: DJACF) is a premium cannabis lifestyle brand featuring the highest quality handcrafted strains in Canada. DOJA’s wholly owned subsidiary, Northern Lights Marijuana Company, is a Health Canada licensed cannabis producer located in Kelowna within the heart of British Columbia’s picturesque Okanagan Valley.

Famous as the “Napa of the North,” Kelowna and its rapidly growing tourism industry accounted for 1.9 million visitors in 2106. DOJA co-founder and CEO Trent Kitsch said the company’s phase 1 facility – a 7,100 square foot building in West Kelowna – houses three grow rooms, each capable of producing 660 kilograms of marijuana per year. The grow rooms are outfitted with state-of-the-art equipment engineered specifically for indoor cannabis cultivation.

DOJA’s initial cannabis harvest, produced under the Access to Cannabis for Medical Purposes Regulations (ACMPR) license held by its subsidiary, Northern Lights Marijuana Company, will be inspected by Health Canada regulators as the last step before a Sales License can be awarded. Once DOJA passes this major milestone and receives its Sales License, the company can begin selling cannabis and position itself as a premium handcrafted producer in advance of the impending recreational market.

“I’m extremely proud of our cultivation team, they have delivered on all levels, the quality of our flower is impressive, and the yields exceeded our expectations. Our growers focus on bringing out the fullest expression of the plant’s genetic potential and the love and hard work they have put into their craft really shows in our first four strains,” Kitsch said. “Post-harvest, our flowers were expertly hand-trimmed, hang-dried and artisanally cured. Our handcrafted approach is aimed at producing the finest cannabis with exceptional aroma, flavor and effects.”

Each grow room is established with Surna’s equipment, providing ductless air handlers, commercial-grade dehumidifiers, and biosecurity products using photocatalytic reaction to sanitize the air and minimize breakouts of pests, pathogens and mold. DOJA’s expansion plans include the ability to add over 40,000 square feet, which would increase the company’s overall production capacity to more than 5,000 kilograms per year. Once completed and producing, the company’s potential revenue, excluding cannabis oil products, is estimated at $60 million.

According to a recent report, DOJA is well capitalized with approximately $4.5 million cash with management holding 33 percent of the shares outstanding. DOJA was founded by the proven entrepreneurial team that started the industry disruptive men’s SAXX Underwear® brand. Kitsch is joined by Ria Kitsch as vice-president and co-founder; Ryan Foreman, president and co-founder; and Jeff Barber, CFO, as DOJA’s “cannabis futurists.”

For more information, visit the company’s website at www.DOJA.life

• Global mobile gaming is the hottest, fastest growing sector of the gaming market
• TAPM is positioned to exploit $40+ billion market opportunity
• Low development costs provide predictable returns
• Positive variables should put TAPM on investor radar

Mobile gaming has become a booming global business. As discussed in the recent article ‘Mobile Gaming Acquisitions on Pace to Boom in 2018’ (http://dtn.fm/9wzoF), mobile gaming is arguably the hottest, fastest-growing sector within the gaming market. Revenues are exploding in the mobile games market and are expected to total $40.6 billion for 2017, an increase of more than $10 billion from 2015. Annual revenues of $40+ billion with 33% growth over two years presents a huge opportunity for correctly positioned participants.

Driven by the ubiquity of mobile devices, gaming has moved from the sofa to an anytime, anywhere activity. No longer tethered to consoles, players have embraced mobile games with a passion that has propelled the mobile games market to new levels and spurred acquisition fever by traditional gaming companies.

Positioned to exploit these market trends, Tapinator, Inc. (OTCQB: TAPM) has been developing and publishing mobile games on the iOS, Android and Amazon platforms since 2013, and it has created a portfolio of over 300 mobile gaming titles that, collectively, have been downloaded by more than 450 million players worldwide. With the guidance of a highly skilled and experienced management team, Tapinator is building a large catalog of “Rapid-Launch Games” that have low development costs while offering predictable returns, complementing its much smaller number of “Full-Featured Games” that cost substantially more to develop but offer massive upside potential. The company generates revenues through the sale of branded advertisements and through consumer app store transactions. By establishing and executing a disciplined return-on-investment strategy, Tapinator is aiming to be among the leaders in the global mobile gaming market.

With outsized growth, increased acquisitions and immense opportunity ahead, the returns in global gaming stocks are proving to be an area that may well outpace other market sectors. Given the multiple positive variables in place, Tapinator should be on investors’ radar.

For more information, visit the company’s website at www.Tapinator.com

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• Non-binding proposed merger announced on November 27, 2017
• Quoin merger expected to deliver non-opioid relief to post-surgical patients
• Over-65 population with advanced pain needs expected to double within next 30 years
• Skinvisible and Quoin proposed merger expected to deliver better results to patients

Health professionals are preparing for an expected doubling of the 65 years and older population within the next 30 years, creating medical need to address the pain that often becomes a prevalent companion to age. While modern pharmaceuticals have developed opioids and non-steroidal therapies for reducing chronic pain, the drugs are often accompanied by addiction and unwanted side effect concerns. However, Skinvisible, Inc.’s (OTCQB: SKVI) recently announced non-binding merger with Quoin Pharmaceuticals Limited is creating a partnership that may provide alternative solutions at a time when they are needed the most.

Quoin’s products include QRX001, which will provide 72 hours of effective non-opioid pain relief to post-surgical patients, and QRX002, which is an anticipated once-a-day solution for military PTSD patients at risk for suicidal tendencies. QRX001 will be formulated with an NMDA receptor antagonist that has undergone almost 30 pre-clinical trial studies in the United States. The studies have shown that sub-anesthetic doses of the compound reduced morphine consumption controlled by the patient, as well as post-operative nausea and the reported intensity of pain, while adverse events were reportedly mild or non-existent. QRX001 is anticipated to undergo a phase II trial in the coming year.

Leveraging these results, Skinvisible and Quoin hope to help reduce the abuse of prescription painkillers, which has received classification as a national health emergency (http://dtn.fm/kv1nB). In a recent study reported in JAMA Surgery, 36,000 post-operative patients’ painkiller use was tracked over the course of a half year. The study found that five to six percent of the patients “continued to fill prescriptions for opioids long after what would be considered normal surgical recovery” (http://dtn.fm/R9LgK). In 2016, drug overdose deaths, the majority of them blamed on painkiller dependency, reportedly rose nearly 20 percent over those reported in 2015, according to the New York Times (http://dtn.fm/YUlE7). The Centers for Disease Control and Prevention reported that opioid-related deaths quadrupled between 1999 and 2015 on par with a commensurate increase in the sale of prescription opioids to pharmacies and medical offices during that period (http://dtn.fm/0VSIf).

“Pain is prevalent and often under-treated among older adults,” University of Texas at Arlington researcher Robert Gatchel said in a December statement to MD Magazine (http://dtn.fm/kLd8A). “With 20 percent of Americans expected to be 65 or older by 2030, the development of new and effective pain management strategies is a necessity, especially given that 75 percent of people in this age group have two or more chronic conditions such as heart disease, arthritis or diabetes, which complicate the taking of pain medications.”

The completion of the merger between Skinvisible and Quoin is subject to the negotiation of a definitive agreement and other customary closing conditions, including Quoin completing a financing round for clinical development.

For more information, visit the company’s website at www.Skinvisible.com

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• For the three months ended September 30, 2017, PGAS reported a profit, greater prepaid expenses and some $3 million added to its assets and shareholder value of the company
• Jim Jimerson, consultant, says in audio interview that PGAS is eyeing more tanker acquisitions and working on worldwide financing, including from the World Bank, for its growth plans
• Diverse revenue stream from oil and gas energy shipping, sales of finished products, a larger tanker fleet and growth through joint ventures

Petrogress, Inc. (OTC: PGAS) sees growth opportunities worldwide for 2018, as this integrated energy company seeks a larger tanker fleet and growth in Ghana, Libya and Cypress. Jim Jimerson, who handles corporate affairs for Petrogress in the U.S., said in an audio interview that the firm, in 2016, consolidated its operations, going public through a reverse merger (http://dtn.fm/JA6kJ). In 2017, it began to show growth through acquisitions and joint ventures internationally. Now, for 2018, it hopes to attract major players as it further expands its production and shipping services.

Jimerson noted that PGAS is focused in 2018 on three priorities. First, the company wishes to consummate a contract in Ghana to give it more growth opportunities. Second, it sees exceptional opportunities for business initiatives to get in on the ground floor in Libya, a location Jimerson describes as being in PGAS’s “wheelhouse” in North Africa. Finally, PGAS is seeking to acquire two more tankers at a discount from Dubai sources, growing its fleet from four to six. This would enable the company to trade through the Suez Canal, boosting its business.

To achieve all that, Jimerson said, the firm is working with U.S. and international finance partners, including the World Bank. In its 3Q2017 SEC 10-Q filing, it reported a profit, adding some $3 million to its book value assets, and increased prepayment on expenses (http://dtn.fm/M4MeD).

PGAS is a New York-based, fully-integrated oil and natural gas energy company with offices in Piraeus, Greece, and Tema, Ghana (located on the west coast of Africa), that manage its operations. PGAS holds various subsidiaries throughout the world. It has a vision of becoming a vertically-integrated energy company. It is segregating its shipping business and petroleum sales into separate companies, which is expected to result in a more focused approach to assist the entities as they pursue individual growth strategies.

The end-goal is to maximize shareholder value. PGAS is divided into four distinct groups: upstream, which consists of oil resources and explosion; midstream, its product fleet carriers; downstream, its refinery and finished product sales; and liquefied, its liquefied natural gas (LNG) sea transportation.

Most recently, PGAS has been expanding its operations to become a greater factor in the oil business and throughout its supply chain. To that end, it has been negotiating partnerships — such as its December 19, 2017, announcement of an MOU signed by its Delaware-based subsidiary, Petrogress Intl. LLC (“PIL”), and EDT Agency Services, Ltd. (EDT Offshore) to combine their operations in certain ports (http://dtn.fm/1qMZr). EDT provides services to oil and gas exploration and production companies globally and operates a fleet of specialized support vessels from numerous facilities. The MOU anticipates a 50-50 partnership between PIL and EDT for certain joint operations.

For more information, visit the company’s website at www.PetrogressInc.com

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• Net Element mobile payment solutions and services unite the retailer, consumer and market with advanced technology
• The company is keeping up with financial technology (FinTech) trends that are disrupting retail banking in a booming market, with U.S. e-commerce sales projected to surpass $360.3 billion in 2021
• Net Element solutions enable mobile payment options, chat-bots, and expansions to now include cryptocurrency payments

Today’s companies implement smart financial technology (FinTech) solutions in order to keep up with the market and deliver to the next-generation consumer. Net Element, Inc. (NASDAQ: NETE) is an innovative provider of current and comprehensive mobile payment solutions and services, uniting the retailer, consumer and market with advanced technology.

According to an article by The Financial Brand, several FinTech trends are disrupting retail banking (http://dtn.fm/FsFp6) and are must-haves for millennials and today’s consumers. Top favored capabilities required to meet the needs of the current marketplace include payment with mobile devices, bot or messenger-based payments and incorporation of digital currency options. Net Element is delivering these and more.

The company’s PayOnline subsidiary provides a fully-integrated, processor-agnostic electronic and mobile commerce platform. The payment platform simplifies transactions, enables payment security and supports more than 100 payment methods and currencies, as well as credit cards. The PayOnline proprietary software-as-a-service (“SaaS”) is compliant at Level 1 of Payment Card Industry Data Security Standards and is certified with most U.S. and global payment processors.

PayOnline also addresses the customer-centric element of online e-commerce, which is particularly important to new-generation customers in an era of increased efficiency, increased automation and social media. The company brings value-added services by connecting merchants and consumers and enabling interaction via chat-bots with four popular instant messaging apps. This technology is central to the future of retail banking and adds valuable elements to each payment transaction, such as bot-automated updates to the customer regarding payments, adjustments and refunds. These types of services keep the consumer engaged and informed in real-time, at each transaction.

In addition, the company has partnered with Bunker Capital for the launch of a blockchain-based business unit. The new unit will provide a framework to develop and deploy blockchain technology solutions that will connect merchants and consumers, as well as increase efficiencies and expand payment options to allow cryptocurrencies. While still in its infancy, the cryptocurrency market is expected to grow from $541 million in 2017 to $2.9 billion by 2023, which would represent a compound annual growth rate of 32.31 percent (http://dtn.fm/b6SET).

Net Element’s vast solutions for e-commerce for the U.S. and select emerging markets include mobile transaction technologies, online payment tools, restaurant, retail and mobile point of sale solutions, analytical tools, and sales partner solutions. These solutions position the company for growth as FinTech disrupts the booming market, with U.S. e-commerce sales projected to surpass $360.3 billion in 2021 (http://dtn.fm/cKT7f).

For more information, visit the company’s website at www.NetElement.com

• MOU to undertake joint venture in Cyprus port operations
• Set to enter upstream business by operating oil platform
• Gaining eligibility to bid for Ghanaian government contracts

A recent announcement (http://dtn.fm/GtI6w), which also appeared in the Greek media, shows that Petrogress, Inc. (OTC: PGAS) is doubling down in Cyprus. Through subsidiary Petrogress Int’l, LLC (“PIL”), the company has entered into a Memorandum of Understanding (MOU) with EDT Agency Services, Ltd., under which the two companies intend to combine operations at the Port of Limassol. The collaboration also extends to future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. The MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services unit. The joint venture will provide support services to supply vessels and offshore exploration and production platforms and will help PGAS serve the E&P needs of major international oil companies in the Cyprus Exclusive Economic Zone (EEZ). The partnership is expected to not only boost PGAS’s revenues, but the company’s profile in Limassol and Vassiliko.

EDT provides services to oil and gas exploration and production companies worldwide, and it operates its fleet of specialized support vessels from facilities in Cyprus and Egypt. In 2013, the company established facilities at Limassol to support Houston, Texas-based Noble Energy, Inc.’s Aphrodite and Leviathan Field operations in the Cyprus Exclusive Economic Zone. Its facilities now include a mud plant, heliport services and shore base support for vessels conducting survey, diving, salvage and ROV operations in the Cyprus EEZ and Eastern Mediterranean.

In addition to these developments, Petrogress, Inc. is expanding its footprint in the oil and gas business with ambitious plans in Ghana. Late last year, the company announced that it had acquired 90 percent of the shares of Petrogres Africa Co., Ltd. (“PAF”) through PIL (http://dtn.fm/uUf1y). The remaining 10 percent is privately held by Ghanaian investors. This acquisition creates a wealth of opportunity for PGAS, since, through PAF, the company will be eligible to bid on local Ghanaian government contracts. The PAF deal also goes some way toward turning Petrogress into a vertically integrated petroleum company. PGAS is already heavily involved in the midstream sector. The company, founded in 2009, transports petroleum products with a fleet of tankers based at the historic Port of Piraeus, Greece. It also internationally markets crude oil, distillates and refined products, and it operates service and shipping facilities at the Port of Limassol in Cyprus and the Port of Tema, Greater Accra, in Ghana.

PAF’s value stems from its ability, through Ghanaian government authority, to locally market oil products and conduct shipping business from the Port of Tema. Having access to port facilities in Tema will provide a service and operations hub for PGAS’s tankers currently involved in Nigerian oil trading and transport. The port will also serve as a secondary hub for repair, supply and transport ship operators servicing Ghana’s Tano Basin offshore oil fields in the Gulf of Guinea. Moreover, PAF expects to bid for operating contracts on the currently shut-in APG-1 production platform in the Saltpond Oil Field, which is located in shallow waters approximately eight miles offshore and 65 miles west of Accra. A shut-in platform is one whose output capacity has been set lower than is possible, perhaps for safety reasons.

The project is owned by the Ghana National Oil Company, which is expected to let out its operation by the end of 2017. Preliminary bid terms will require the successful applicant to make repairs on the production platform and work over the six existing wells to boost production from current levels of 300-500 barrels per day (bpd) and will also grant access for exploration and production (E&P) development on up to 10 additional offshore blocks. Current reserve estimates for Saltpond range down to 4.2 million barrels of oil and 20 billion cubic feet of gas recoverable. Unproven reserves on the studied portions of the additional blocks, however, are as high as 44 billion barrels of oil equivalent.

The APG-1 platform, nicknamed “Mr. Louie”, has an interesting history. Dating from the late 1950s, it became the first self-elevating drilling barge classed by the American Bureau of Shipping. It has been employed in the Gulf of Mexico and in the North Sea and has been in West Africa since the late 1970s. After drilling six appraisal wells at the Saltpond Oil Field in offshore Ghana, Mr. Louie was converted into an oil platform at Saltpond in 1978 and renamed, rather more impersonally, as APG-1.

PGAS is also actively seeking opportunities in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., as well as refinery operations in north and West Africa, and the transport and sales of LNG in Europe.

For more information, visit the company’s website at www.PetrogressInc.com

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