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  • Keystone Delta Oil Proposes New SCS – PRC Oil Pipeline

    Beijing based oil exploration company Keystone Delta Oil this morning proposed the creation of a new pipeline to run between its operations in the South China Sea and mainland China

    Apr. 12, 2013 - BEIJING, China -- At a board of directors meeting held this morning at Keystone Delta Oil's offices in Beijing, Chief Executive Officer Mr Peng Chong announced the possibility of a new pipeline, designed to ease the company's transportation costs between its assets in the South China Sea and its mainland processing and distribution sites.

    According to Chief Executive Officer Mr Peng Chong, this initial expenditure could save Keystone Delta Oil tens of millions of dollars over the coming years, and would need to be largely be funded by investor capital. Chief ExecutiveOfficer Mr Peng Chong was quoted as saying "The proposal itself will require a great deal of planning and prior due diligence before it is given an okay by our board of directors, but I do believe that over the medium to long term, this proposed pipeline would reduce Keystone Delta Oils overheads, as well as securing our place as a dominant presence in the South China Sea".

    With the possibility of a an additional multi-platform license in the region having been recently announced by Keystone Delta Oil, the board of directors confidence in its operations and future prospects is clearly extremely high. However, as Chief Executive Officer, Mr Peng Chong himself commented this morning, it remains to be seen whether public confidence within the wider investment community will suffice to deliver the much needed capital required to fund such a large scale project whilst the company is simultaneously investing in this new South China Sea license.

    Non-Executive Director at Keystone Delta Oil, Dr Zhang Wei, who is now in the process of managing the new site's acquisition said "Keystone Delta Oil is cash rich at present, and has a strong estimated throughput for the coming years, especially with the new license the company is in the process of developing. What is important to remember is that Keystone Delta Oil has long term high level contracts in place, as well as an excellent asset portfolio; and so whether this pipeline proposal is implemented now or 24 months from now, Keystone Delta Oil is headed in the right direction to grow and create value for its shareholders."

    Further information is scheduled to be released into the public domain in May 2013.

    Aug 04 7:14 PM | Link | Comment!
  • Keystone Delta Oil To Secure New South China Sea Exploration License

    Beijing based oil exploration company Keystone Delta Oil today announced that talks are in process to secure a fourth exploration license in the South China Sea.

    Apr. 5, 2013 - BEIJING, China -- At a press meeting held this morning at Keystone Delta Oil's offices in Beijing, Chief Executive Officer Mr Peng Chong announced Keystone Delta Oil will seek to invest in a new license within the much disputed South China Sea over the coming months.

    Despite having already multiple drilling platforms on three active licenses in the region, Keystone Delta Oil will continue to expand and invest in the South China Sea, where currently its entire asset portfolio is situated. This, according to Keystone Delta Oil's Chief Executive Officer, is due to the hugely underestimated oil reserves within the region, which have dissuaded the board of directors for looking further afield.

    At present Keystone Delta Oil's three licenses portfolio cover 3200km square and can be divided into producing (licenses SCS019 and SCS022), and exploratory (license SCS028). According to Peng Chong, this new license acquisition along with exploratory license SCS028 could potentially double the output of Keystone Delta Oil over the com ing twenty four months.

    Chief Executive Officer Mr Peng Chong declined to comment on the specifics of the potential new acquisition but said "We are focused in our objectives, and we will be making major changes within both our company and our asset portfolio across 2013. The site was identified by our recently appointed Non-Executive Director at Keystone Delta Oil, Dr Zhang Wei, who is now in the process of managing the sites acquisition."

    Further information is as yet not being released on the precise timeframe for acquisition or location of the site in question; however this information is expected to be made public over the coming weeks.

    Jul 04 12:12 PM | Link | Comment!
  • Chinese Oil Explorer Keystone Delta Oil Appoints Dr Zhang Wei To Board Of Directors

    Beijing based oil exploration company Keystone Delta Oil today announced the appointment of Dr Zhang Wei to the position of Non-Executive Director

    Mar. 28, 2013 - BEIJING, China -- Dr Zhang Wei (50) who graduated with a doctorate from the Shanghai Jiao Tong University in the late 1980's has spent his entire career working in administrative capacities within the oil exploration industry. His appointment to the position of Non-Executive Director goes to reflect his many years of hard work and loyal service to Keystone Delta Oil. Dr Wei currently works in a consulting capacity for several oil exploration companies, and will have a minimal role in the administration of Keystone Delta Oil, which stands in stark contrast to his pivotal position with Keystone Delta Oil during the its early days and throughout the past 15 years of the company's growth.

    While Dr Zhang Wei will not have an active role in boardroom administration he will continue to provide on-site logistical expertise as well as seeking to identify new exploration licenses for acquisition.

    Dr Zhang commented on his own appointment saying "It means a great deal to me that my efforts and long term investments in Keystone Delta Oil have been recognised. While my background is largely technical, I have historically been consulted during many of the major board decisions, most notably our decision to focus our interests in the South China Sea over recent years, which was undoubtedly a pivotal point in our company history".

    Chief Executive Officer at Keystone Delta Oil, Mr Peng Chong said "Dr Zhang Wei has worked with us since the company was founded, and has contributed as much to our development as any of our founders, so I am proud to welcome him to our board and I know his expertise will provide invaluable insight and guidance over the coming years as we explore our South China Sea licenses".

    Jun 13 12:16 PM | Link | Comment!
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