Letter from the CEO
a few years ago, through our analytical approach we started our adeventure into the oil industry. This year, 2015, the company has witnessed some major changes. I along with my wife and my three sons , moved in the US to closely follow the projects we are involved in , and most important to catch the industry opportunities which, in a time frame which sees oil prices decline, do neverthelss come about.
WTI prices, at these levels, have certainly created a lot of uneaseness to the many companies which until a few months ago, despite their banks exposures, were involved in projects which registered incredibly high cash flows. These same come companies, today, are out of business as they have not been able to face their financial exposure.
Our philosophy has always been that to not recurr to bank credit or financial exposure but on the contrary to move along slowly but surely so to be able to stand up against the possibility of lower oil prices. This attitude has prooven the correct one and the growth we have registered in these last years appears more solid if we do take into account that it has originated in a quite complex market and in an economic environment which particularly in Europe has been incredibly harsh.
We believe that the main reasons behind our succes lay in our careful choice of the partnership we have entered , in the choice of partners whith whom we have been able to work closely and in an efficient mode resulting in the construction of a highly qualified working team as well as to the creation of an important network within the industry.
It is thanks to all this that Euramerica Gas & Oil is now able to consider analyse and buy at convenient prices, projects which are already in production yet with high development potentials.
I strongly believe that in year 2016 we shall have the opportunity to grow to a new dimension and that the work which we shall carry in the US shall be soon appreciated and rewarded in the same way we have experienced with the many who have believed in what we were doing in Italy.