Path Investments PLC

Path Investments PLC is a UK based energy investment company focused on energy investments worldwide.

  • Introduction

    "Path has a significant pipeline

    of new opportunities"

    Path Investments plc is an energy investment company, and is focused on making investments in the energy sector on a global basis. Path Investments plc seeks to create value for its shareholders through acquisitions, joint ventures or direct interests in energy businesses or associated projects.

    The aim is to achieve superior returns through the transformation of distressed, under performing or mispriced assets into high quality, income producing marketable assets through active management. We have an investor focused approach.

    Even at today’s depressed oil price levels, the acquisition of such producing assets is still able to demonstrate healthy annuity type cash flows and provides a basis for asset growth, both of which can be distributed to shareholders on a regular basis. Speculative exploration activities are not part of the model.

    There is considerable interest in the proposition among companies in the SME energy sector as Path, by purchasing these interests, provides capital to those businesses who are often struggling to fund their other commitments, whilst locking in potentially attractive returns for itself. Return of capital invested is sought within a two-year period from initial investment.

    Path has a significant pipeline of new opportunities. It is the directors’ intention that a minimum of 3-4 transactions will be undertaken per annum.

    Value Tracker
  • Management

    Directors

    Nigel Brent Fitzpatrick | Chairman, Non-Executive

    Brent has over 20 years’ experience as a corporate finance consultant. He was previously Chairman of Global Marine Energy and is currently Chairman of Risk Alliance Group, Vela Technologies and Aboyne Clyde Rubber Estates of Ceylon Limited. Brent is a non-executive director of Acorn Growth plc. He is a member of the Audit Committee Institute. In 2012, Brent was awarded an MBE for services to education.

    Christopher Theis | CEO

    Christopher is an experienced investment banker and entrepreneur. He has led number one rated City teams, including Smith New Court and Hoare Govett in the origination, structuring, flotation and placement of secondary market transactions of numerous successful companies. Christopher has also founded a number of successful quoted and private businesses. Christopher holds an MBA from Cass Business School.

    Andrew Yeo | Chief Operating Officer

    Andrew was a founder member of Evolution Securities where he was a board member and executive director. He previously worked for UBS and Hoare Govett, where he first worked alongside Christopher. Over the last ten years, Andrew has gained significant expertise in the oil and gas sectors having had a variety of roles including oil and gas private equity and operational and financial experience in exploration and production activities as CFO of Wessex Exploration PLC.

    Rakesh Patel | Finance Director

    Rakesh qualified as a Chartered Certified Accountant in 1991 whilst at Gerald Edelman, Chartered Accountants. In 1992 he formed the firm’s corporate finance division and was involved in acquisitions, disposals, mergers, private placings and stock market flotations. In 2003, he joined Adler Shine LLP, Chartered Accountants, where he is currently a senior Partner. Rakesh has served on the board of directors of a number of public companies and has worked on more than 40 public company transactions.

    Donal Joseph Boylan | Non Executive Director

    Donal began his career with GE as a Power Generation field engineer before moving into aviation finance with Aer Lingus, GPA, GE Capital and Royal Bank of Scotland. He was most recently CEO of global aircraft lessors, CBD Leasing and Hong Kong Aviation Capital and board member of several of shareholders’, HNA Group and Bohai Leasing, international investments. He has developed an extensive network of Middle East and mainland China investment relationships.

    Tommaso Maria Corrado | Non Executive Director

    Tommaso is an experienced energy investor and entrepreneur with board level experience including BG Group (Italian subsidiary) and Swerve Energy (senior partner). Tommaso has held a number of roles which have involved him in the investment and divestment processes of corporations and investors. These included the selection, appraisal, evaluation and assurance of international energy assets and contracts across the value chain and asset development cycles.

    Technical Team

    Tom Mackay | Consultant, Petroleum Engineer

    More than 30 years petroleum engineering experience and management covering all aspects of drilling, testing, completion and production engineering. Gemini, Stratic, Clyde and Shell; NED of Aminex

    Jon Ford | Consultant, Geoscientist

    More than 30 years experience as seismic interpreter, asset evaluator and subsurface manager. Tedstone, Stratic, Merlin, Paladin and Clyde.

    Dr Enzo Zappaterra | Consultant, Petroleum Geologist

    More than 30 years in oil & gas exploration with Chevron (and its affiliates) and management and consulting roles in most of the petroliferous basins in the world. Specific expertise in the Mediterranean Region

  • Market

    • The directors believe that no direct competitor for Path’s business offering within the smaller and medium quoted energy sector exists at this time.
    • Barriers to market entry may appear low; however, Path’s directors believe that the company currently has a significant time advantage over any competition that may arise least of all as it already has a significant number of opportunity under active consideration
    • Moreover, Path directors’ experience and contacts, both with corporates and Institutional Investors, are within the smaller and medium quoted sector.
    • As and when investment rates of return move below Path’s minimum internal hurdle thresholds, the model will move from acquisition to divestment
    • Introductions to candidate companies & assets arise from internal contacts, industry participant referrals and Institutional Investors (both current & prospective shareholders of Path)
  • Products/Services

    Current Investment - Turkey      

    • An attractive energy market exists in Turkey, with good fiscal and pricing terms available to domestic producers. Royalty rates of 5%, 20% corporation tax and 5% withholding tax encourage local production which today accounts for only 5% of Turkish oil and 1% of gas consumption.

    Path currently holds legacy investments in two private companies in Turkey namely:

    A 5% equity investment in ARAR Petrol ve Gaz AUPAS, a fully integrated service company, incorporating the ownership of drilling rigs, seismic trucks, logging etc.

    A 5% equity investment in Alpay Enerji AS, an owner of certain producing oil and gas licenses situated in the Northern, Central and South Western provinces in Turkey.

  • Milestones

     

    Admitted to Standard List Segment of the LSE Official List 30th March 2017.

  • Key Data

    Segment Listed Gallery
    Market identifier
    Name Path Investments PLC
    Short name PIP
    Sectors Construction & Housing, Environmental
    ISIN
    Currency GBP
    Trade post 0
    Trade start 2016-02-17
    Number of shares 0
    Vat number
    Entity number
    Country United Kingdom
    Instrument type share
    Votes per share 1
    Stock type A
    Address

    Aston House Cornwall Avenue London N3 1LF United Kingdom