Alternative investment firm First Sentinel has bought into a US based oil and gas operator.
The consortium of investors subscribed for £625,000 of shares in Curzon Energy.
Curzon has one asset in Coos Bay Oregon, where Curzon is 100% owner and operator of a known and tested coalbed methane gas accumulations covering some 45km.
The operator is also looking to identify and acquire assets, which are deemed attractive by its board.
The Coos Bay asset has historical positive test data; 86 to 419 BCF of contingent resources and up to 1,000 BCF of CBM gas in-place.
The previous operator has spent around $37million to date and has drilled five wells and laid four miles of pipeline.
The five wells tested gas up to 100 Mscf/day each in an area selected for initial development due to proximity to a regional gas pipeline.