Energy Holdings International Inc (OTCMKTS:EGYH) is making another big move up after the Company said they recently applied for DWAC with DTC whereby EGYH shares can be electronically wired to investment houses for the benefit of investors. In addition the BOD is contemplating a buyback of stock based on the low price of its stock price and its planned future acquisitions. Energy Holdings International, Inc. continues its relations with GE in developing Middle East Power projects. Stated Mr. John Adair, Chairman.
EGYH exploded to over $0.18 a share recently after the Company announced a Joint Venture with Rasan Energy Holding Company (K.S.C.) Of Kuwait with Initial Investment Fund Of $60 Million USD To Acquire North America Proven Oil & Gas Assets and to increase extraction of shale oil & gas from oil reserves. Investors are hoping EGYH trades up this week after finishing last week in the red.
Energy Holdings International Inc (OTCMKTS:EGYH) is a Saudi-American Company located in Houston, Texas, Riyadh, Saudi Arabia and Dubai, UAE. It also is active in pursuing oil and gas acquisitions in the Continental United States and Canada and plans to finalize an acquisition in 2013, stated Adair.
On November 5 EGYH announced the Company along with Rasan Energy Holding Company signed the joint venture on 15 October 2014 in Dubai, UAE whereby Rasan will provide $60 million USD equity investment funds for the acquisition of proven oil and gas properties in the United States and Canada. The joint venture will be owned 50/50 between Energy Holdings International, Inc. and Rasan Energy Holding and will be jointly owned and operated via a new holding company “Energy Vest 1”.
Energy Holdings International, Inc. has been active in the development of Independent Power Plant (IPP) assets on a Power Purchase Agreement (PPA) basis with utilities owned by local MENA Governments in both solar and combined cycle power plants. EGYH utilizes G.E. Technology for Heavy Fuel Oil (HFO) and Gas fuel while utilizing First Solar Technology for solar farms whereby giving a long term value to the Energy Holdings International, Inc. shareholders. Energy Holdings International, Inc. has long had the intention of acquiring oil and gas properties in the United States, and with the technological advancements that has led to the increased production; the investment risk has been reduced significantly. The shale production in the US has increased over the past few years and will continue stated Jalal Alghani, Vice-Chairman.
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The joint venture between Energy Holdings International, Inc. and Rasan is a stepping stone into the acquisition and investment in the Energy market in the United States and Canada with the initial targeted asset value exceeding $120 million USD. Rasan has agreed to provide additional investment capital in 2015 for larger acquisitions; The Joint venture with Rasan Energy has full support from the Board of Directors of Energy Holdings International, Inc.
Everyone knows that if you want to do business in the Middle East on any scale one must work with the royal family which is exactly what EGYH is doing giving the entire venture a certain amount of credibility. The Company currently counts His Royal Highness Prince Abdullah Al-Saud and His Highness Prince Bader Al-Saud as directors.
Conclusion: EGYH has exploded skyward after the Company announced the JV with Rasan Energy of Kuwait with Initial Investment Fund Of $60 Million USD. This is significant as EGYH currently trades at a $7 million market valuation with 40 million shares outstanding. IF initial payment is received the Company will have a per share cash value of $1.50, if the EGYH gets the 2nd payment of $60 million that would represent a per share cash value of $3.
There is little wonder EGYH is exploding upwards here on what looks to be heavy accumulation. The stock is on fire and its quickly gaining the type of loyal shareholder base that can drive these pennies to 1000% gains. All this makes EGYH a stock to watch and might just provide another spectacular trade opportunity in the coming weeks and months ahead.
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Disclosure: we hold no position in EGYH either long or short and we have not been compensated for this article.