Partnership
The partnership is between Nevtah Capital Management, Inc., and Black Sands Energy Corp. The extraction technology is provided by development by Black Sands Energy nd the financing is provided by Nevtah Capital Management. On 12 January 2007, Nevtah Capital Management and Black Sands Energy announced a joint venture agreement with Korea Technology Industry. According to the agreement, Korea Technology Industry provides $19 million for the development of the Whiterocks Deposit, in exchange of 50% of net profit. The joint venture agreement is limited to 100 million barrels of oil.
Read more about this topic: Utah Oil Sands Joint Venture
Famous quotes containing the word partnership:
“Are we bereft of citizenship because we are mothers, wives and daughters of a mighty people? Have women no country—no interests staked in public weal—no liabilities in common peril—no partnership in a nation’s guilt and shame?”
—Angelina Grimké (1805–1879)
“Nevertheless, no school can work well for children if parents and teachers do not act in partnership on behalf of the children’s best interests. Parents have every right to understand what is happening to their children at school, and teachers have the responsibility to share that information without prejudicial judgment.... Such communication, which can only be in a child’s interest, is not possible without mutual trust between parent and teacher.”
—Dorothy H. Cohen (20th century)
“Society is indeed a contract.... It is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born.”
—Edmund Burke (1729–1797)