IFM RESOURCES, INC.

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IFM TEAM'S DEAL EXPERIENCE

Financial Advisory Assignments:

Ø      Advising a UK-registered oil company in raising long-term financings up to a billion dollar both debt and/or equity for development and/or sale of Azeri oil assets and ; assisted company in developing business plans, cash flow models, scenario analysis based on various technical studies, assisted in completion of the engineering studies and governmental matters like PSA negotiations. Currently company is up for sale.  (November 2002 – 2007)

Ø      Advising a media company based in California to raise $75 million for development and production of several Computer generated animation movies and related merchandizing.  Assisted in developing business plans, cash flow models, scenario analysis. (April 2006- 2007)

Ø      Advised a Mauritania registered Oil and Gas Exploration company in the sale of equity in three onshore blocks to a strategic investor for an estimated amount of $15-20 million to $400 million in several phases. (December 2004-June 2006)

Ø      Advised two international  oil companies (Assets of one of the companies  located in Azerbaijan and the other in Kazakhstan) in a cross border merger valued between $700 million and $1 billion (January 2002 – February 2003)

Ø      Advised Nations Energy in implementing a strategic financial plan and raised funds in excess of $175 million from international financial institutions for Kazakhstan oil assets (January 2000 - April 2003)

Ø      Advised Golden Spike Energy on the acquisition of a gas field and the related financing for the development of gas fields in Jordan; the assignment was terminated due to political action in the region (October 2001 - April 2002)

Ø      Advised W. A. “Tex” Moncrief on $160 million financing of one of the world’s deepest gas producing fields in US (April 2000 - January 2001)

Ø      Advised Moncrief Oil International on strategic and financial maters of  arranging financings for two PSAs in Azerbaijan and various discussions with SOCAR, EBRD and other related parties (January 1999 - December 2002)

Ø      Advised Alrosa of Russia on a financial strategy, on getting debt rating from rating agencies and on raising $500-$1000 million in a Euro bond issue; the assignment was terminated due to the ruble crash and financial force majeure in Russia in 1998 (1997-1998)

Ø      Advised Gotland Oil (based in Sweden) on acquisition of assets in Kazakhstan

Ø       Advised Crystal Eurasia in the closing of a Joint Venture with Orenburgneft of Russia

Ø      Advised Omimex regarding acquisition of assets in Kazakhstan

Ø      Advised  Melkombinat of Tver, Russia, in corporate restructuring and raising capital in the international market companies; the effort had to be terminated due to the ruble crash and a financial force majeure in Russia (1997-1998)

Ø      Advised Smith Barney, Uebersee Bank (AIG), Russian American Investment Bank (Moscow), Forex Bank (Estonia) regarding their business strategy and corporate restructuring in Russia (1997-2000)

Ø      Advisor to several high technology start up companies including Israel-based high-density holographic storage technology company (1997-1999)

Ø      Served as President and CEO of the AIG Silk Road Fund ($75 million for Central Asia including Azerbaijan, Kazakhstan, Uzbekistan and other Central Asian countries)

Ø      Served on the investment committees of various AIG sponsored equity funds (Millennium - $300 million, AIG Russia/NIS and AIG Silk Road funds) (1996-1997)

Ø      Originated and led review of debt and direct equity investment deals flow related to corporate finance, corporate restructuring and M&A in Russia, Kazakhstan, Estonia, Uzbekistan and Ukraine. (1997-1999)

Ø      Led training and development of client personnel (two Russian financial institutions) in the corporate finance, investment banking and asset management (1997-1999)

 Debt Financing:

Ø      Arranged $65 million of medium-term debt from KBC Bank N.V. and syndicate of several International Financial Institutions for a Kazakhstan company (July 2002)

Ø      Arranged $20 million for a bridge financing from KBC Bank N.V. and Bayerishe Lendersbank for a Kazakhstan company (February 2002)

Ø      Arranged $6 million of short-term debt from a private investor from Europe for a Cayman Island company with assets in Azerbaijan (2001)

Ø      Arranged $45 million of medium-term debt from KBC Bank N.V. lead syndicate  for a Kazakhstan company (August 2001)

 Multilateral Financing:

Ø      Restructured $40 million of long-term debt from EBRD for Azeri subsidiary of a Canadian oil company (February 2003)

Ø      Structured and negotiated  $5 million of private equity from a multilateral institution into Equity of the acquirer of the Azerbaijan assets (November 2002-February 2003)

Ø      Arranged $40 million long-term debt from EBRD for Azeri subsidiary of Texas/Cayman Island registered company (December 2000)

Ø      Arranged $5 million of private equity from EBRD for Cayman company with assets in Azerbaijan (December 2000)

Ø      Assisted in raising $7.5 million from EBRD for AIG-sponsored equity fund for Central Asia (Silk Road Fund) 1997

 Private Equity Financing:

Ø      Arranged $16 million of private equity from a strategic investor for an Azeri subsidiary of a Cayman Island company (July 2001)

Ø      Arranged $10 million of private equity from a strategic investor for an Azeri subsidiary of a Cayman Island company (April 2001)

Ø      Arranged $2 million of private equity from a private investor for an Azeri subsidiary of a Cayman Island company (February 2000)

Ø      Assisted AIG with raising private equity for the AIG Millennium Equity fund

Ø      Assisted in raising $75 million in private equity for the AIG Silk Road fund for Central Asian countries

Consulting:

Ø      Advised several technology companies on methods to access funding and from various financing sources  (1996-Present)

Ø      Performed equity valuation analysis and provided advice on Employee Stock Options plan and its expense recording in the financial statements for a Canadian  Energy Company Ltd. (2000–2003)

Ø      Assisting a UK oil company with assets in Azerbaijan to restructure from JV to PSA, develop reserves and PSA-based field economics to evaluate an oil field financing potential (2002-present)

Ø      Assisted an oil company in acquisition deals analysis, asset valuation strategy, financial projections and establishing a regular financial reporting documentation to comply with multilateral loan covenants and facilitate loan monitoring. (2000-2003)

Ø      Consulted with several technology companies on matters related to financial statements, realistic forecasts, expectations and business plans (1999-2000)

Ø     Taught finance courses (Corporate financial management and corporate finance) at City University of New York  and Rutgers University (1998-2000)

Experience gained by the consultants while at J.P. Morgan:

 In addition to responsibilities for client relationship accounts, origination of investment banking businesses and managing teams of professionals, the senior team members were key players in securing the bank’s presence in the following transactions and markets:

Kazakhstan:

Ø      Represented Kazakhstan Government in the restructuring and sale of 50% stake in Tengizneft (one of the largest oil fields in the world), and other oil fields for approximately $1.64 billion (1991-1993);

Ø      Advised Kazakhstan Government on restructuring and  sale of equity in Uzen oil field,  customized investment procedure to attract competitive bids in range of $1.2 billion to $700 million in equity and debt (1994-1996);

Ø      Advised Atyrau refinery in funding an upgrade with debt and equity (1993-1994);

Russia:

Ø      Advised Conoco and raised over $220 million for the Polar Lights project from EBRD, IFC, OPIC and others (1992-1993);

Ø      Advised Orenburgneft on formation of JV with Crystal Oil (1991-1993);

Ø      Conducted “Risk Analysis and Risk Management” seminars related to debt and equity investments and project financing for FSU bankers, corporate professionals and senior decision makers (1991-1995);

Ø      Raised $65 million project loan from EBRD for Benton Oil and Gas Company Russian North Gubikinskoye field;

Netherlands: Structured $150 million for Clam Petroleum (JV between Marathon Oil and Burlington Resources) in developmental financing, subject to borrowing base, to develop an offshore gas field in the Netherlands;

Denmark: Field project financings and several re-financings of $500 million for Gorm, Tyra and other oil fields in offshore Denmark for A. P. Moeller;

North Sea:

Ø      Financed Texaco Tarten field for $400 million;

Ø      $1 billion non-recourse multi-field (Statfjord, Statpipe and Gulfaks) development financing for Saga Petroleum, Norway;

Ø      $260 million limited recourse financing for Valahall field development to Norwegian Oil Consortium (Amoco, Saga and others);

Ø      Financing of Amoco’s share of Statford and Valahall fields;

Ø      Financing of Noco’s Norwigian oil field for $280 million;

Norway: Advisory assignment to evaluate and structure a non-recourse financing for BP Norway supported by all Norwegian producing assets;

Czechoslovakia: Financial advisory Prague airport, Czech telecom and other projects;

Nigeria: Advised Mobil/NNPC in financing OSO field by World Bank, IFC and others for $400 million;

Angola: Advised Gulf/Sonangol in obtaining $650 million bond supported by commodity swap transaction for Cabinda project ;

Qatar:

Ø      Advisory assignment to evaluate for ONGC (INDIA), economics of a gas pipeline from Qatar to India versus a LNG development of North Dome field;

Ø      Project assignment to structure $500 million limited recourse financing for AP. Moller for development of a large oil field overlaying the North Dome gas field;

Trinidad: Project financing of Atlantic LNG project;

Papua New Guinea: Advisory assignment to value BP assets in Papua New Guinea;

India: Advisory assignment (onshore and off-shore) to the Government of India/ ONGC for approximately $150 million; assisted ONGC in developing a hydrocarbon tax regime to facilitate a licensing round for offshore exploration blocks;

Indonesia: Arranged several layers of project financing for Huffco partners (including a limited recourse facility to Huffington) for Badak LNG project with a total of about $400 million; reviewed Badak holdings of Union Texas Petroleum and provided a credit on a limited recourse basis;

Malaysia: Arranged $500 million credit to MLNG project (Malaysia LNG), a JV between Shell Sarawak and Petronas;

Australia: Arranged $1.4 billion financing for Woodside Petroleum’s NW Shelf gas field; credit rating advisory assignments Woodside Petroleum;

USA:

Ø      Project finance advisory assignment to assist project sponsor with structuring and syndicating $600 million Iroqois Pipeline project loan in USA;

Ø       Syndication of Magma Power’s $132 million limited recourse geothermal project;

Ø      Structured and syndicated non-recourse acquisition financing for Mobil’s Rocky Mountains project (acquisition Anschutz gas field) for $450 million;

Ø      Financing Shell’s Belridge for $2 billion;

Ø      Amoco’s West Texas project financing producing fields for about $200 million;

Ø      Arranged $120 million non-recourse loan to Cross Timbers Oil;

Ø      Performed credit rating assignments for Amerada Hess;

Ø      Bellwether Exploration and AES;

Ø      Financing for several refinery transactions such as Valero’s acquisition in California from Exxon;

Ø      Phillips Petroleum’s acquisition of Tosco, and Valero’s acquisition of Ultramar Diamond Shamrock;

Ø       Advisory project for BP on financing a gas pipeline from Prudhoe Bay to the lower 48 states;

Ø      Structured acquisition financing for Occidental Petroleum for acquisition of US Naval Petroleum Reserves in California from the US Government for $3.2 billion;

Canada: Arranged a bridge facility for Nuevo Energy’s acquisition of Ranger Petroleum;

Mexico: Assisted Marathon in bid to develop Cantarell gas reserves;

Venezuela: Arranged financing of Benton’s Vinclair,

Argentina: Advised on Hidra project;

Brazil: Advisory project to structure the development financing of an onshore and an offshore oil field for Petrobras;

Multiple locations:

Ø      Freeport McMoran projects in USA and Indonesia;

Ø      Advisory project to evaluate Shell Pectin (Houston) holdings in Yemen, Qatar and China for sale or swap arrangements;

Ø      Structured several bridge facilities for power plant acquisitions for AES

Copyright © 2006 IFM Resources, Inc.  All rights reserved.