Anthony Gumbiner of Hallwood, Early Investor in BlueCrest Energy

Released on: June 30, 2015, 5:12 pm (EDT)
Industry: Energy

Dallas, TX, June 30, 2015 -- /EPR NETWORK/ -- In 2012, Anthony Gumbiner, Chairman of Hallwood Oil and Gas, became an early investor in Blue Crest Energy Inc, a private Alaskan oil and gas company, focused on responsible acquisition, exploration and development of oil and gas resources in the Cook Inlet of Alaska.

In August 2012, BlueCrest Energy Inc. acquired Proved + Probable reserves in the Cook Inlet and in 2013; the Cosmopolitan State #1 well was completed.

A reserve report dated January 2015 prepared by independent engineers Ryder Scott shows proved undeveloped (1P) reserves with a PV-10 value of $1.57 billion, proved and probable (2P) reserves with a PV-10 value of $2.2 billion and proved, probable and possible (3P) reserves with a PV-10 value of $4.2 billion.

Mr. Gumbiner, of Hallwood Oil and Gas, serves as a director of Blue Crest which has organized a debt and equity financing package to develop its substantial oil and gas reserves.

On June 11 2015, Blue Crest closed on an $80 million equity tranche. It expects to close on an additional debt financing tranche by next month that will facilitate oil production

Contact-Details: Celine Gumbiner
3710 Rawlins, Suite 1500
Dallas, Texas 75219

Tel. (214) 528 5588

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