Petrogress, Inc.

EXPERT

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Petrogress, Inc. is a diversified marine transport and off-shore services company operating from offices in Piraeus-Greece, in Limassol-Cyprus and in Tema-Ghana. The company’s principal business involves crude oil and petroleum products trade, and the management and operating of its own oil tankers fleet, carrying crude oil and refined petroleum products along the west coast of Africa and Mediterranean. The company also has an interest in the sole shipyard in Limassol, Cyprus, from which it will provide fabrication and repair services, along with general logistical support to established E&P off-shore companies operating in the oil and gas fields off the south coast of Cyprus and Israel. The company is actively building its fleet, with pending acquisitions of AFRAMAX tankers it will operate for existing customers under long-term charter, and anticipates direct entry into the E& P market space in the next 12-18 months, with pending acquisitions of developed properties in west Africa and the U.S. Furthermore, in consideration of recent changes in US law, the company has options to lease two LNG carrier vessels, which it would use to provide shipping services from US processing facilities to various ports in the EU, facilitating European energy security.