Additional investments into SQFive and Quorum MENA


 

TIDMQOGT 
 
RNS Number : 5772P 
Quorum Oil and Gas Tech. Fund Ld 
27 March 2009 
 

Not for release, publication or distribution in, or into, the United States, 
Canada, Australia or Japan. 
 
 
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| Press Release                      |                      27 March 2009 | 
+------------------------------------+------------------------------------+ 
 
 
 
 
 
 
Quorum Oil and Gas Technology Fund Limited 
 
 
("Q-OGT", "the Fund" or "the Company") 
 
 
Additional investments of US$1,556,571 million into SQFive Intelligent Oilfield 
Solutions Limited and US$327,168 into Quorum MENA Limited 
 
 
Quorum Oil and Gas Technology Fund Limited (LSE:QOGT), a registered closed-ended 
Guernsey investment company traded on the London Stock Exchange, is pleased to 
announce that it has made additional investments into SQFive Intelligent 
Oilfield Solutions Ltd ("SQFive") and Quorum MENA Limited ("QMENA"). Both 
investments have been made to provide both SQFive and QMENA with additional 
working capital to support their ongoing corporate development. 
 
The first is an additional investment of US$1,556,571 million into Q-OGT's 
investee company, SQFive. SQFive is a corporate cluster of five entities with 
long histories in the oil and gas technology sector globally, which have been 
brought together to provide the next generation of integrated solutions through 
innovative technology with world class know-how to characterise reservoirs, 
monitor their behaviour and optimise their performance.  This additional 
US$1,556,571 million investment follows an initial investment in April 2008 and 
several further investments during 2008 which totalled US$14,977,700.. 
 
The second additional investment totals US$327,168 and has been invested into 
QMENA, an operating oil and gas services company designed to be a joint venture 
with Middle Eastern partners, and which is headquartered in the United Arab 
Emirates. The company has several divisions including Drilling Services, 
Geosciences and Management Information systems. This follows an investment of 
US$2.821 million into QMENA in December 2008. 
 
 
Wanda Dorosz, Managing Partner and CEO of Quorum Group, said: "I am extremely 
pleased to announce Q-OGT's further investments into both SQFive and QMENA They 
are in line with our strategy to invest in businesses with proprietary 
technology which add significant benefits to the oil and gas industry and we are 
particularly excited about the opportunities that QMENA presents for all of the 
Q-OGT investee companies to drive out sales and expand into the Middle East." 
 
 
- Ends - 
 
 
For further information: 
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| Investment Manager                            |                          | 
+-----------------------------------------------+--------------------------+ 
| Quorum Group                                  |                          | 
+-----------------------------------------------+--------------------------+ 
| Wanda Dorosz, Managing Partner & CEO          |     Tel: +1 416 971 6998 | 
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| wdorosz@quorum.ca                             |                          | 
+-----------------------------------------------+--------------------------+ 
| David Sefton, Quorum European Partners LLP    |    Tel: +44 (0) 7989 333 | 
|                                               |                      371 | 
+-----------------------------------------------+--------------------------+ 
| david.sefton@quorum-europe.com                |       www.q-ogtfund.com  | 
+-----------------------------------------------+--------------------------+ 
 
 
Media enquiries: 
+-----------------------------------------------+--------------------------+ 
| Abchurch                                      |                          | 
+-----------------------------------------------+--------------------------+ 
| Henry Harrison-Topham / George Parker         |     Tel: +44 (0) 20 7398 | 
|                                               |                     7719 | 
+-----------------------------------------------+--------------------------+ 
| george.parker@abchurch-group.com              |  www.abchurch-group.com  | 
+-----------------------------------------------+--------------------------+ 
 
 
 
 
Notes to editors: 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry. The Fund is managed by the Quorum Group, a 21 year old strategic 
sector private equity firm, headquartered in North America, which also has a 
subsidiary and office in London, Quorum European Partners LLP.  Q-OGT was 
admitted to the Official List of the UK Listing Authority and to trading on the 
London Stock Exchange on 7 January 2008. Its stock market EPIC is QOGT.L. 
Further information can be found at www.q-ogtfund.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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