Dallas, Texas – An Australian businessman, who shares the same name as the famous Aussie actor, will also rise to new heights of success, not in the movie business, but in the multi-trillion-dollar oil and gas business. Chris Hemsworth, whose career began in real estate development in Sydney, NSW, recently made a move to acquire over 2,100 acres in the Permian Basin. As of January 25th, 2019, Chris has completed a second horizontal well, both targeting the prolific Wolfcamp A formation, with a total depth of 15,500 on the first and 16,667 feet on the second.
“With oil being a state-owned resource in Australia, the opportunities for investment in oil and gas are limited at best,” said Chris Hemsworth, CEO of Alpha Seven Energy (ASE). “The returns I’ve personally seen in oil since I founded Alpha Seven Energy in 2017 have motivated me to move all of my investments into oil and gas ventures.”
After being introduced to the potential massive returns achieved in oil and gas, Chris left a very successful career in real estate and development to enter the world of oil and gas. Through his time in the industry, Chris has been able to develop key relationships in the industry, which ultimately led to his ability to secure the lease in such a prolific oil field. One such partner is Robert Reyes, who was the head engineer at Halliburton for 20 years, and one of the first to come as far east in the Permian when working with Harmonia Petroleum Corporation (HPC). ASE took a calculated chance on the Permian Basin, which will prove to be one of the smartest decisions in Chris’ career to date.
The next step in the journey is to fund the completion of the Radmila well, Alpha Seven Energy’s second well, then do the same with the first well. Alpha Seven Energy’s for this lease include the addition of 15,000 acres by the end of 2019. The median sales price on developed acreage in these two counties (Borden and Howard) ranges between $20,000 and $30,000 an acre, with some even reaching $40,000. As a result, Chris has plans on developing the current lease to exceed the $35,000 per acre mark.
Blue Mount Capital, who has offices in Australia, China, the UK, and representation in Malaysia, Bangladesh, and Singapore, has a partnership interest in the project and is also assisting ASE with raising capital through some of their investor networks, debt, and equity funds in Australia and the US.
“We are very pleased to have a company like Blue Mount Capital involved in the project, their experience and track record is world class and far reaching throughout the world,” said Chris. “Additionally, we are looking to open our first Australian Headquarters, located in Queensland, in the first half of this year. With a new corporate logo and website in the final design stages, we (ASE) are well prepared to achieve new heights of success for all of our investor partners and key stake holders alike.”
Alpha Seven Energy is headquartered in the heart of Dallas, Texas with a satellite office in Midland, Texas. The ASE team makes regular visits to the drill locations, with updates accessed through a partner portal. The addition of the soon to be established Queensland office will increase the organization’s international presence and the ability to attract the interests of investor partners throughout Australasia and the world.
