Transcript was automatically generated.

Frank Curzio 00:00

What’s going on out there? It’s Wednesday, May 6th, and I’m Frank Curzio.

Frank Curzio 00:04

This is the Wall Street Unplugged podcast where I break down analysis and, uh, tell you what’s really moving these markets. So we’ve got another awesome interview set up for you today. It’s with Craig Steinke, the CEO of a small company called BluEnergies. Uh, like Telescope Innovations, where I interviewed the CEO,

Frank Curzio 00:23

Jason Hein, a few weeks ago, uh, and they’re selling robotic systems to Pfizer. They actually sold two of them, which means they actually work. Uh, they have partnerships with 15 of the 20 largest pharmaceutical companies. It’s a tiny company nobody knows of, nobody heard of, under the radar. The same thing with BluEnergies. And these are the companies we like working with, with our marketing consultant division, to help them get more attention,

Frank Curzio 00:43

to help them get their press releases right, uh, to, to have the whole world start learning about them. And in this generation right now with AI, we’re seeing so many people leave so many of the bigger places and start new startups. And so many companies are coming to me now because they know our reputation. They know we get behind these companies. We know we recommend them. Uh, and we’re seeing just so many really, really good names.

Frank Curzio 01:04

And the due diligence process is very thorough. I make sure I talk to the management teams. They’re great management teams. They check off all these boxes. BluEnergies is right there. And as you know, again, very selective with the companies I work with and a great contact of mine because I have, you know, fortunate to have a very good network, uh, pitched me this company.

Frank Curzio 01:22

And it’s an offshore exploration company that has huge acreage off the coast of West Africa. So I was like, absolutely no way. Red flag, red flag, right? Right at the beginning. Uh, he goes, Frank, listen, just talk to the CEO. I wouldn’t bring you into any company. Uh, and just listen to what he has to say. Trust me. And he was right because, yes, this company bought massive acres off the coast of West Africa.

Frank Curzio 01:41

But Craig put this process together using geologists that researched 42 countries over 30 basins over a 15-month span. And he did this in 2020, 2021, before choosing the location of its 2.2 million acres, which is off the coast of Liberia. Today, if you fast forward how early Craig was and you look,

Frank Curzio 02:01

almost every major oil company is drilling right now off the coast of West Africa. And right now, if you put this into Google, you’ll see tons over the past six months, three months, two months of how much the oil majors are just snapping up so much of these West African blocks all over the West Coast because they’re finding a huge amount of oil. And when you look at Africa,

Frank Curzio 02:23

a lot of people that know this, I didn’t know this when I started doing due diligence. Look at this offshore plant. So the Africa attracts the most high-impact wells plan in 2026. I had no idea. And we’re not just talking about a few. We’re talking about BP, Chevron, Shell, ENI, Petrobras. And when you look and you say, okay, why is this happening?

Frank Curzio 02:39

It’s happening because the Group of 30 has a production shortfall the size of nearly two Permian basins. And now you see everything going on with Iran and even before this, and all the geopolitical risks. This is an area where offshore drilling has suddenly become affordable. The technology is much better. And they’re looking for these elephant wells,

Frank Curzio 03:01

these huge finds, which you’re finding off the West Coast of Africa. And everyone’s going there. Everyone’s going there, including this company, which is called Total. And Total, and it uses waterfall offshore exploration permits where? In Liberia. And it’s funny because Total Energies, when you look at Total Energies with this small company,

Frank Curzio 03:21

and again, I had red flags all over the place and I’m like, holy cow, this is crazy. Total signed a partnership with them to help them explore this area. And they own all the area around it. So I’ve been covering junior miners. I cover exploration companies.

Frank Curzio 03:38

You don’t see major partners or biggest companies in the world partner with small names this early, right? This early stage in their growth, uh, in the developmental stage. And now you’re looking at Petrobras just came out with news and Shell announced they’re buying blocks near this area as well. Credit to Craig, brilliant guy.

Frank Curzio 03:56

It was like buying Manhattan real estate 50 years ago where all of a sudden all the majors are coming in and this small company was first to this area. Uh, he hired a brilliant team, which includes mining legend, who I’ve interviewed a long time ago, Ian Telfer. You should be very familiar with that guy. He’s probably the biggest name in mining, Gold Corp, a former CEO of Gold Corp. Uh, he’s the co-founder of BluEnergies.

Frank Curzio 04:16

Uh, it’s a great story, a great company with lots of potential, which you’re about to hear about right now. So let’s get to my interview with Craig Steinke. So Craig, thanks so much for coming on Wall Street Unplugged.

Craig Steinke 04:28

Thanks, Frank. Uh, just delighted to be here.

Frank Curzio 04:31

So let’s start from the get-it at BluEnergies. Uh, how did you come up with this idea? Uh, you know, again, offshore drilling, Western Africa. Uh, you know, when did you decide to put this company together, get the right people in place?

Craig Steinke 04:47

Well, Frank, as I’m sure you know, it all starts with a vision. Um, and we had a vision to, uh, to establish Blue in a high-impact, credible, uh, oil and gas play back in 2021. I thought the time was right. And, but we needed a database.

Craig Steinke 05:08

And, uh, but we were aware of a midsize geophysical company down in Houston that has a high-quality, worldwide, very comprehensive oil and gas database. And so back in 2021, right in the heart of COVID, um, it was hard to get a flight down there. Um, I went down to visit them.

Craig Steinke 05:28

And at that time, you know, they were looking for ways to generate new business, keep their people employed. So what we did is we did a collaborative deal where we pooled our technical people together and used their database and worked it for 15 months, went through 42 different countries, 30 discrete sedimentary basins,

Craig Steinke 05:49

and then after 15 months, distilled it down to five opportunities that we really liked. And then we went at it again technically and commercially and came up with our top pick and the highest impact, most credible play. And that was unequivocally the Harper Basin offshore Liberia.

Craig Steinke 06:09

And then, Frank, as we dug into it a little further, we found that there was actually seven basin floor fans, um, in offshore, in the, in the Harper Basin, stacked on top of one another, intermingled with one another to collectively create a potential multi-billion barrel oil reservoir.

Craig Steinke 06:29

So, um, and Frank, interestingly, you know, the general consensus is that the Harper Basin is very likely the last undrilled sedimentary basin offshore Africa.

Frank Curzio 06:43

So you did this in 2021. And I think there’s a lot of people listening to this going, okay, you know, exploration company, offshore, small company, Africa, no way. Because I said that when I first learned about this. And then once I got into the details, I did the research. Uh, talk about what is going on, how early you were to the party.

Frank Curzio 07:03

Because this now you’re looking at where offshore drilling, and when I talk about the war, what oil prices are now, technology makes it a lot easier. Technology allows you to find it a lot easier. It also, it, the costs have come down tremendously. But when you’re looking at the shortfall in oil, where the Group of 30 has production shortfall of the size of nearly two Permian basins, and they are going all in.

Frank Curzio 07:23

And if anyone does a Google search right now and just says, you know, West Africa oil, offshore drilling, you’re going to see tons of articles coming up over the past six months of how they are going all in on this. And some of the biggest finds have been around here. I mean, it’s a credit to you. You were thinking about this in 2021 because right now this is one of the biggest untold stories, I believe,

Frank Curzio 07:42

is offshore drilling off Western Africa because there’s been big, big finds there. What’s the next step for you? Because now you talk about Liberia. Let’s go there. I mean, it’s Liberia. Uh, you know, is it, you got to worry about geopolitical risk? Uh, have you guys, you know, operated in that area before? Talk about that because I think investors get a little nervous when you hear Africa. Oh, we got to lose our money,

Frank Curzio 08:01

especially after you hit on something due to loss change. Yeah. Talk a little bit about that and how you’ve done your due diligence on that area.

Craig Steinke 08:08

Well, if I, if I could just go to the first part of your question and then we’ll come talk about Liberia. But, you know, you bring up a really good point, Frank, that like just, you know, it’s very, very fluid in the industry right now. And all you hear about now is offshore. And, but like the, I think a very important point here,

Craig Steinke 08:27

Frank, um, that you’ve picked up on is that, you know, Blue, like there’s no way Blue could get into this region now. But when in 2024, when we locked down the license, we were, we were alone offshore Liberia. We were the only player offshore Liberia. We actually had our pick of any of the blocks.

Craig Steinke 08:48

We picked what we thought and still think are the three best blocks in the epicenter of the Harper Basin. The sands are thickest, sands are cleanest, more por, uh, more, more porous and permeable, better reservoirs, et cetera. But we had our pick. Um, but there was, there was no players involved at all.

Craig Steinke 09:07

Now back to your point, Frank, that just amazing what can happen in a year. So that was 2024. We’re all alone, with the exception of to the east of us, offshore coat devorer. ENI had made some big discoveries. Uh, the Balene discovery in ’21.

Frank Curzio 09:23

EN who?

Craig Steinke 09:24

ENI. Yeah.

Frank Curzio 09:26

ENI, but we’re going to talk about Ian Telfer. ENI, go ahead.

Craig Steinke 09:29

ENI. And, uh, they made a two and a half billion barrel discovery in ’21. As a matter of fact, our VP of exploration, by the way, digressing a little bit, was, um, is Sergio Laura. And he led the team at ENI that made that discovery. Now he’s over with us focusing on the, uh, Harper Basin. But yeah, we were there all alone with the exception of ENI.

Craig Steinke 09:50

A year later, you know, look what, look what happens. Total comes in, does a deal with Blue, first of all. Uh, then just to the east of us, kilometers to the east of us, Petrobras, the big petrol, um, Brazilian NOC, picks up eight blocks a few months ago to the east of us. And then to the east of them,

Craig Steinke 10:10

ExxonMobil just took three blocks to the northwest of us of Total and Blue. Uh, you’ve got, uh, ENI has just acquired five blocks, then Chevron, eight blocks.

Craig Steinke 10:21

And then while we were at the Africa investment conference in Paris last week, Shell signed and announced at the conference that they just took 19 blocks just to the northwest of us. So the whole area has just, it’s become a licensing breakout. And Frank, I, I just, uh, Granite Point Research,

Craig Steinke 10:40

um, John Stevenson, a former BMO, uh, capital analyst, um, is now Granite Point Research. He covers Blue and I think he describes Blue the best, you know, as a result of the recent activity, he calls Blue a junior in the land of giants. And, but it’s a really good description of what’s happened.

Craig Steinke 11:00

Um, and, you know, to summarize on that point, Frank, you know, Blue’s not the only way to play the region or invest in the region, but it’s likely the best way, uh, or the most impactful way because we’re the only junior publicly traded company in the region. The rest of them are the majors.

Frank Curzio 11:18

Now you said something interesting. Okay. So if people are watching this for the first time, now you, you know, you’re saying, okay, Africa, and now all the majors are there. But you said something, I want you to elaborate more. Now that you were first to the party in this area, which you got to give yourself a lot of credit for, and I do. And it’s the reason why, you know, it’s, it’s, you know, I’m recommending this company.

Frank Curzio 11:38

Uh, and I think you have a huge future. One of the biggest companies in the world came to you and now you have a partnership with Total. I think that they’re one of the top seven in the world. Uh, they’re all over this area. I mean, they’re top seven in the world, I think, in terms of production, but they’re, they’re one of the biggest when you’re looking offshore, especially Africa, they’re everywhere. Uh, talk about that deal and how, you know, they came to you, right?

Frank Curzio 11:57

So you have a, you know, this small company in the middle of nowhere. Now you have the majors and now it has to be such a good area where they could have bought around you. They didn’t, they, they, they decided to partner with you. How did that come about?

Craig Steinke 12:07

Yeah. Okay, Frank, um, that’s, uh, super important, of course. Um, you know, but like Blue’s license in 2024, when you locked down the 2.2 million acres, three blocks in the epicenter of the Harper Basin, we then, our license allows Blue to do all the science we want, but we need a deepwater operator to drill this.

Craig Steinke 12:27

And that is unequivocally the goal for Blue. We’re here to drill. So, um, once we acquired the blocks, then immediately we acquired a 3D seismic survey, which was about one and a half million acres, covers a good measure of our blocks. We interpreted that 3D seismic, finished the interpretation about this time last year. We go,

Craig Steinke 12:46

wow, okay, look, this is a multi-billion barrel opportunity. This is going to appeal to the super majors of which there are seven in the world. And so we opened up, uh, databases in London and Houston and invited all seven super majors to the party. Um, two of them politely said, no, thanks, we’re busy.

Craig Steinke 13:07

But five of them were interested enough to sign nondisclosure agreements. And of that group, Total was one. And given Total’s success offshore Africa, you know, they were certainly a top pick for us for a, for a partner. Total became the most aggressive of the group.

Craig Steinke 13:25

We went direct or engaged with Total July 2025 and then worked with them and consummated our partnership in, uh, January 5th, 2026, where Blue has a healthy 35% of the license and Total is, uh, has, um, 65. But to summarize that, Frank,

Craig Steinke 13:44

what it does, it clearly validates our blocks having Total, you know, join us. But then also what it does, it just takes that partnership risk right off the table, which was a big one. And, and then on, on top of that, then, you know, it allows Blue to tap into a deep, deep successful knowledge base offshore Africa, Total.

Frank Curzio 14:06

And the biggest part, I think, even with junior miners is, is people use the word de-risk a lot and de-risk of the situation. I mean, now you have a legit partner. Uh, but what I love about this is what I see is when people start companies, especially if they’re younger, uh, when junior miners, right? Once they find, I mean, their goal is to sell this asset. What is your goal here?

Frank Curzio 14:26

Because even talking to you, I know what it is, but I don’t want you to tell everyone because, you know, if you wanted to sell this asset, you probably might have been able to sell the whole thing to, to Totali, whatever roachy check. And it’s like, you know, pocket change to them. Uh, but you’re not looking to sell this project. I mean, you really want to see this thing out, don’t you?

Craig Steinke 14:40

Yeah. That’s, that’s been our goal from, you know, since we, you know, we found the prospect, uh, is to stay in it and drill it. The, um, you know, this is a multi-billion barrel opportunity. You don’t see these, you don’t see a little company like Blue, you know, with this type of opportunity, with this type of partner. We got, our goal is to stay with this and drill it alongside Total.

Craig Steinke 15:02

That’s where the maximum value is going to be for our shareholders. And I know little companies acquire property and then they flip it. And it’s kind of like a base hit. And there’s nothing wrong with that. It happens all the time. But that’s not our objective. And we’ve got, you know, some serious shareholders behind this company that are all aligned and in, in order to drill this, um, to drill this prospect.

Frank Curzio 15:24

All right. Let’s talk about those shareholders. Because one of them happens to be one of the legendary mining executives of all time. Uh, he happens to be your friend, I believe he’s the co-founder of this company who’s Ian Telfer. Talk about your relationship with him. Because now when you talk about the management team, now you start checking off a lot of boxes. Okay. This isn’t in the middle of what,

Frank Curzio 15:43

you’re in a great area of West Africa. You’re seeing the majors drill next to you. Uh, now you have a big partnership, right? So now you see that you de-risk, de-risk, de-risk. And now you’re saying, okay, who’s the management team? Where you showed that you have a great geology, geologist where, you know, you got this project in the right place, well ahead of the majors. Now talk about the management team, especially Ian Telfer.

Craig Steinke 16:03

Well, yeah, that goes back a while. And I’m sure, as you know, Ian Telfer, very interesting guy. Um, but when, when I met Ian, it was back in 2009. Um, that was when, you know, Ian had put, Ian was a co-founder of, uh, of Goldcorp back in 2001 when they started,

Craig Steinke 16:23

I believe they started out with like $10 million in a little company. And they built Goldcorp up in, well, 2009, one, eight years, uh, to be, it was, it was like $40 to $50 billion market cap company. I think it vacillated between the largest by way of market cap and second largest company, gold company in the world.

Craig Steinke 16:44

I mean, just a tremendous success. So that’s when I, I met Ian. And the reason I met him is that I had just done a deal with Halliburton on an overseas, uh, oil deal. And, um, I was looking for a, a listed company to launch it. And a mutual friend of Ian’s and mine,

Craig Steinke 17:03

uh, introduced me to Ian because Ian was, um, uh, had a, had a listed company that he wanted to do something with. So we met down in Palm Springs. And, you know, it’s funny, Ian, he’s, he told me, he says, well, you know, he says, I’ve always wanted to be in the oil and gas business, but I was going to leave it until my next life. And, uh, but then I think he found the, the deal that I was,

Craig Steinke 17:23

uh, showing him so compelling, uh, that he decided to speed that up a little bit. And we partnered up. And, and, uh, that was in 2009. And, you know, we’ve been doing oil and gas deals for, I guess, 17 years now. And it’s turned out to be a really good relationship. I think, you know, we’re good business partners, but we’re also friends.

Frank Curzio 17:41

No, that is really great. That’s great. And, uh, what I, what I really love about this too, because when I see an offshore driller and now that you partner with someone with Total, which is great, is that now investors wonder, what are the catalysts coming up? What are the next six months? What are the 12 months that they can look forward to? And one of the things I like is sometimes when you’re a really good executive,

Frank Curzio 18:00

those catalysts and how you set up your company doesn’t necessarily have to be strictly BluEnergies. Because now you have the majors, right? Now you have Petrobras coming in. Now you have Shell, uh, not too far away. So, you know, ENI, right? So if they’re had, if they have good results at all, it’s going to reflect in your stock, especially with your partnership. So, you know, but specifically within BluEnergies,

Frank Curzio 18:21

what are some of the catalysts that investors could look forward to? Because from my understanding, a lot of this has 2D, maybe some 3D, and that’s in the Harper Basin, which is probably, you know, you had some data there, but it’s a little bit old. You know, are you looking at this data? Is this a short-term catalyst to say, hey, we really have something? Because this geology, and again, I don’t want to get too much into geology,

Frank Curzio 18:39

because outside of geology, you don’t want to lose the average investor. But the geology is very similar to some of the biggest finds that you’re seeing in West Africa that have already been explored. You know, talk about that and the catalysts coming up that investors, if they’re buying the shares today, that they can look forward to.

Craig Steinke 18:52

Well, I think that, um, Frank, just the, how fluid things are in the region is a catalyst in itself. We don’t know what’s around the corner. Um, it’s just like the tide is coming in and the value’s going up in the region. And, uh, I just think that, and I don’t think,

Craig Steinke 19:10

um, I think Blue by way of its market cap is just starting to appreciate that. Uh, because, you know, not, not too many people know of Blue, Frank. You know, we didn’t, we went public a year ago, but we didn’t have a partner. So I didn’t put out a news release until we actually had a partner with Total January 5th, uh, 26th.

Craig Steinke 19:31

So this is really fresh news. Um, you know, it’s a great story, but we’re, you know, just getting the story out there. So not many people know of Blue and what’s going on. So I think that, you know, over the next six months, you know, there’s going to be a lot more, um, we’re going to have a much bigger audience. So I, and they’ll realize, you know, the, what’s going on in the region,

Craig Steinke 19:51

which is, you know, very, very active. I think that’s a catalyst in itself. And then more within the country, the company, more granular, you know, we’re working on, um, we’ve got other plays we’re working on. And, you know, some of them sizable. Um, I don’t want to overpromise, underdeliver. So I don’t like to say too much about them,

Craig Steinke 20:10

but just know that we’re working on new plays to augment our portfolio. The backbone of the company is working with Total in the Harper Basin. But, you know, we’ve also got, you know, a few other cards to play. So there should be a good news flow here over the next, uh, you know, in 2026.

Frank Curzio 20:26

Now, I don’t know if you could talk about this. And if you can, it’s perfectly fine. But I don’t want you to get into the details. But when you have a partner like that, sometimes they’re, they’re more of a passive partner where they’re not truly involved. Uh, how involved are they? Because from my understanding and meetings and stuff like that, it seems like, you know,

Frank Curzio 20:45

it’s, this is a relationship that, that, you know, they’re really involved. I mean, could you say that or not? I don’t know what you could explore, but it just seems like this isn’t like Total going to 20 different companies who maybe bought up areas all along West Africa and say, okay, let’s just partner with them on one of them going to hit. It seems like that they’re more involved than that, aren’t they?

Craig Steinke 21:02

No, they’re, they’re all in on this. They’re very excited. We were in Paris, um, uh, at this conference last week, but, uh, we met with Total several times and met with their technical team and, uh, management. And look, this is a, this is an important play to them. And we’ll be meeting them, you know, at a big technical meeting in June in France.

Craig Steinke 21:23

Um, that’ll be our first in-person technical meeting. But they’re very, very much immersed in this. They’ve got a lot of people working on this.

Frank Curzio 21:32

No, that’s great.

Craig Steinke 21:33

So it’s, it’s actually, it’s quite impressive, Frank, like the reprocessing and the seismic is, is ongoing. And we’re about a third of the way through that. And when it’s, um, so it’s all going well. We’re on schedule. But there can be anywhere from 10, 12, to even 17 geoscientists between Total, TGS,

Craig Steinke 21:53

the, the, the seismic company and Blue working on this at one time, just technically, let alone the business guys.

Frank Curzio 22:00

That’s fantastic.

Craig Steinke 22:01

So, yeah, yeah, it’s, uh, I’d say they’re all in. They’re excited about it.

Frank Curzio 22:05

And when could we expect results on, you know, analyzing this data or I should say reanalyzing it or making sure with updated technologies? Is that going to come out pretty soon?

Craig Steinke 22:15

Well, no, that’s kind of hard to, to put out into the public domain. I think that.

Frank Curzio 22:19

Which is perfectly fine. Again, my, my job is to push a little bit. So.

Craig Steinke 22:23

Yeah. Sorry.

Frank Curzio 22:25

No, that’s perfectly fine. It’s, it’s, because what I see when, when, when, you know, and I’ve dealt with small companies for 30 years is, is the news flow, right? So, I mean, amazing that you’re able to get this property. Amazing that you partnered. And I think what investors, they want to say, okay, what’s the next step? And we’re in the TikTok age where people flick every second. So they’re always like, okay, this takes two, three months and we’re not going to hear anything.

Frank Curzio 22:45

You know, just, you know, that, that trail of news, I think is really important to investors. Because this is really, really exciting right now. And I think as more people know the story, they definitely can put money into your stock and say, you know, I’m just going to keep it there and see what happens. Because you’ve de-risked this so much and you’re in the right areas. And just to show investors and give them confidence, I mean, you, your family, you guys have a big stake in this, right?

Frank Curzio 23:04

I mean, you, you have, and which is, you know, you have stake in the game. It’s, it’s, uh, a huge part. It’s one of the checkmarks that I, that’s a necessity for me to, to actually get behind a company and talk about them and, and recommend to my, to my, you know, clients and subscribers. You know, talk about that, how much interest you have in this company. Because, you know, you’re fully aligned with the stock price going much higher.

Frank Curzio 23:23

And that’s what shareholders have to love about this.

Craig Steinke 23:26

Yeah. Well, I think, you know, just similar to what you’re saying, Frank, and believe, um, that, you know, the, the people who start the company, the founders, you got to write the upfront check and take the risk. And, you know, you get, you get paid for that in, in shares. So you want, you know, typically wind up with, you know, big, uh, shareholding in the company, which you should.

Craig Steinke 23:45

But you got to take the upfront risk and, and write the check, significant checks before you ask other people to invest. And that’s exactly what Ian and I have done. And then on top of that, while still in the private stage, we’ve worked with some, uh, some really good investors, um, over the years. Um, so we’ve had, uh, David Elliott, for example, come in in the private stage.

Craig Steinke 24:06

He’s the, uh, one of the founders of Haywood Securities, you know, a very prolific resource investment bank in Canada. Huge supporter of, um, uh, of, of Blue. And then, uh, David Lyle, the chairman of, of Haywood Securities, is a big shareholder and huge supporter. Peter Brown, an iconic figure in,

Craig Steinke 24:26

uh, in Canada, you know, who built, uh, Canacore Genuity. Um, you know, one of the second, now the largest independent investment bank in Canada. He’s a major shareholder. So we’ve got some great shareholders that are completely aligned with the, the board and management to get this drilled.

Frank Curzio 24:44

So last question here, and that’s fantastic to know. When you see these guys all coming in, uh, these are people who have 20, 30 years, even more of experience coming together. They don’t invest in companies unless they really believe that there’s something there, right? Uh, and there’s a good shot for that, which is awesome. So I’m glad you went over that. Uh, but the last question here is, is, you know, and I’m not going to say six months, but say two years from now.

Frank Curzio 25:06

What do you see a company in two years from now? And let’s say, you know, again, it’s such a hard question. I know everyone wants to think six months, 12 months, and people want to know what’s going to happen tomorrow. But two years out gives you a good timeframe of where you really want to take this company, uh, your relationship with Total. Uh, I’m just curious, you know, for, for investors on a two-year time horizon, I mean, where do you see this?

Frank Curzio 25:24

Because I, for me, I see more and more majors just, you know, piling in, going around your area, uh, lots of drilling results from everybody else that, that, you know, but where do you see it in two years?

Craig Steinke 25:35

Well, you know, this is a risky scenario, risky, um, venture that we’re on. But based on a, you know, the success scenario, we will be drilling or have drilled the first exploration well. And based on success there, we’ll go on to appraisal wells and, and, um, and, uh, a drilling program.

Craig Steinke 25:55

Uh, you know, you look what Total has done on Venus, uh, the basin floor fan play, a comparable play to, uh, the Harper Basin what we have offshore in Namibia. Um, they drilled that, the first successful exploration well, um, it was February 2022. Subsequently, they’ve booked several billion barrels of oil.

Frank Curzio 26:17

Billion.

Craig Steinke 26:17

And this billion. And they are going on to make their final investment decision this summer. And I strongly believe they’re going forward with it. So just in a, you know, this is how quickly it can happen from exploration success to they’re going to drill 40 wells.

Frank Curzio 26:34

Wow.

Craig Steinke 26:34

In all likelihood, offshore Namibia in the Venus play. So, you know, we got a basin floor fan play comparable to, uh, uh, to Venus. So let’s use that progress, you know, as a pretty good analog.

Frank Curzio 26:47

No, that’s really good. Really great to hear. Listen, I’m really excited. I wish you the best of luck, because sometimes you need a little bit of luck with this as well. But you definitely put the right people in the right positions, uh, to, to really get this asset. It’s amazing that Total partnered with you. And, uh, I think when people start learning about this story, uh, they’re going to be really excited. Hold on and see where you could take this company.

Frank Curzio 27:06

Because, uh, I love the fact you’re not looking to sell it. You’re looking to see this through. I really like that. That’s why I’m behind it. So, uh, listen, good luck with everything. Uh, and I really appreciate you joining us today on Wall Street Unplugged.

Craig Steinke 27:16

Hey, Frank, thanks very much. And kind of one final comment.

Frank Curzio 27:19

Sure.

Craig Steinke 27:19

Just to, just to kind of latch on to the last, uh, last comment is that I think that, um, John Stevenson of Granite Point Research has done a really good job in delineating what a success case scenario will look like on a net asset value basis per share.

Craig Steinke 27:38

And he’s done that in the research report that’s on the front page of Blue’s website. So blue-energies.com. That gives people a good understanding, a good indication of just what success will look like. See, he uses like, uh, a key two and a half billion barrels. Okay, here’s what the net asset value will look like on a per share basis,

Craig Steinke 27:59

discounted, et cetera. So he’s done a really good job. And that helps people get their head around the, uh, the reward here.

Frank Curzio 28:05

And you had that on your site? You had that on your site?

Craig Steinke 28:07

It’s on the site. Yeah.

Frank Curzio 28:08

Oh, that’s fantastic. That’s awesome. Usually the sales site, yeah, they’re going to put, you know, that they’ll have it hidden or whatever you got to pay. That’s fantastic. That’s really good. That’s awesome. That’s on your front page. I mean, I’ve seen it, but I didn’t know it was available for everyone to see. So that’s really good.

Craig Steinke 28:19

Yeah. Yeah. Okay.

Frank Curzio 28:20

That’s really good stuff. Thanks for sharing that with me. And thank you so much again for joining us on Wall Street Unplugged.

Craig Steinke 28:24

Okay, Frank, thank you.

Frank Curzio 28:26

Okay. Look, BluEnergies checks off a lot of boxes when investing in small mining companies. Excellent management team, tons of experience. Ian Telfer, uh, has the capital, which, which is great. And, and also helps partnering with Total, which, again, de-risk the project. That’s what you want to do. You want to take on as little risk as possible while generating the highest returns.

Frank Curzio 28:47

And that’s what these guys are doing. Africa offshore, no denying. Just do your research. Go into Google. The drilling is absolutely booming in that area, especially West Africa. The majors are all in. Uh, West Africa is a hotspot and Liberia with Total. And to me, if I know Craig might not say this, if I had a guess and I’m guessing my opinion,

Frank Curzio 29:06

they probably came to, to purchase the whole area. And Craig’s like, no, I want to see this through. And I love that because he knows he’s on something very big because the geology in that area, and believe me, I studied the geology and it’s three quarters of that presentation. I know it’s going to bore most people who are outside in the mining industry who are not geologists. Looking at the geology, it’s a similar geology,

Frank Curzio 29:25

almost same geology where they’re finding some of these elephant wells all over West Africa. And that’s why he put together that team. And that’s the area they chose, the Harper Basin, which is Total’s like, hey, I’m there. Petrobras now pretty close, you know, Shell not too far away. So really, really excited. Uh, it makes BluEnergies the only public pure play offshore Liberia company.

Frank Curzio 29:45

Uh, they’re operating a land full of giants. I love companies like this that if they’re right, it offers life-changing gains. We’re talking about a multi-billion dollar market cap for a company that has a small market cap right now. Uh, BluEnergies is listed on TSX under the symbol BLU. And it just received, it’s over-the-counter listing, uh, BLUGF, which is normal, right?

Frank Curzio 30:04

So, you know, due diligence they do on the Canadian exchange, which is great. And then you also want to get U.S. investors in. So almost all these good companies get their OTC listings. So U.S. investors could buy them pretty much using any brokerage firm that you use. And again, that symbol’s BLUGF. Uh, great stuff from Craig.

Frank Curzio 30:22

And Daniel and I will be back tomorrow to break down the markets on Wall Street Unplugged Premium. And I’ll see you then. Take care.

Announcer 30:27

Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money, and your responsibility.