$2,838,000 December 31, 2003
$5,100,000 September 27, 2002
Structured, Underwritten & Arranged
by Enstar Financial
Both transactions provided infrastructure capital as an operating expense for the Jr. E&P to focus their capital on increasing production and reserves while reducing & delaying equity raising dilution. The strategy ultimately allowed for enhanced growth to harvest cycle upon take-over by an income trust.