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Petroleum industry

Adair International Oil & Gas, Inc. Plans $3 Million Offering

Strategic Insights

— 1 min read

Adair International Oil & Gas, Inc., a Houston-based company with interests in oil, gas, and energy projects in the U.S., Colombia, Paraguay, and Yemen, has announced a $3 million offering. The company, managed by a world-class group of professionals, is expected to increase revenues from $250,000 per year to $500,000-$700,000 per month by November 1998. Adair's chairman, John W. Adair, is optimistic about the company's future, citing advancements in exploration technology and a strategy of taking advantage of opportunities in smaller and mid-size projects.

Key Takeaways:

  • Adair International Oil & Gas, Inc. plans a $3 million public offering, expected to be made at a minimum of $.75 per share.
  • The company, managed by a world-class team, has interests in oil, gas, and energy projects in the U.S., Colombia, Paraguay, and Yemen.
  • Adair expects to increase revenues from $250,000 per year to $500,000-$700,000 per month by November 1998.
  • The company's portfolio of projects shows a healthy distribution, with the majority in stable, cash-producing wells and the balance in projects with enormous profit potential.
  • Adair's strategy of taking advantage of opportunities in smaller and mid-size projects under $100 million is beginning to pay off.
  • The company has made significant advancements in exploration technology, increasing its profitability.
  • Adair International Oil & Gas, Inc. was established in 1981 and has operating wells in Texas, Oklahoma, and Louisiana.
  • Internationally, Adair has development, exploration, and operational projects and joint ventures in Latin America and Yemen.

Statistics:

  • $3 million: The amount of the public offering.
  • $250,000: Adair's yearly revenue prior to the acquisition.
  • $500,000-$700,000: Adair's projected monthly revenue by November 1998.
  • $20 million: The amount scheduled to be invested in Adair's projects.
  • 1981: The year Adair International Oil & Gas, Inc. was established.

Sources:

  • Business Wire - May 13, 1998
  • OTC BB: AIGI - Adair International Oil & Gas, Inc.
  • Select Capital Advisors
  • Select Corporate Information - Lynne Sifford, 305/856-5668

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