Eddyfi Acquisition, Valuation, Funding & Investors

Natural Resources Partners LP is a diversified natural resource company. It is engaged in the business of owning, managing and leasing a diversified portfolio of mineral properties in the United States, including interests in coal, trona and soda ash, crude oil and natural gas, construction aggregates, frac sand, and other natural resources. The company leases coal reserves to experience mine operators under long-term leases that grant the operator the right to mine its coal reserves in exchange for royalty payments. The company operates in two reportable segments namely: Mineral Rights and Soda Ash. the majority of the revenue is generated from the Mineral Rights segment. Geographically, the business activity of the group functions through the United States.

Dorchester Minerals LP operates as the owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests. The company generates revenues from royalties, net profits interests, lease bonuses, and others.

Yinson Holdings Bhd operates in various segments which include Offshore Production & Offshore Marine segment consists of Engineering, Procurement, Construction, Installation and Commissioning business activities and FPSO operations covering leasing of vessels and marine related services; Other Operations segment comprises investment holding, management services, treasury services and advisory, investment, asset management and insurance-related services; Renewables segment owns and operates renewable energy generation assets; and Green Technologies segment invests in strategic green technology companies and development of assets within the marine, mobility and energy segments (including marine transport, urban mobility, micromobility and charging infrastructure).

Kimbell Royalty Partners LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. The company's basins and producing regions include areas of interest in the Permian Basin, Mid-Continent, Terryville/Cotton Valley/Haynesville, Appalachian Basin, Eagle Ford, Bakken/Williston Basin, and DJ Basin/Rockies/Niobrara. Its revenues are derived from royalty payments received from operators based on the sale of oil, natural gas and NGL production, as well as the sale of NGLs that are extracted from natural gas during processing.

Serica Energy PLC is an independent upstream oil and gas company with operations centered on the UK North Sea with a range of exploration and production assets. The company operates the Bruce, Keith, and Rhum fields in the UK Northern North Sea. It also operates the Columbus Field, Triton FPSO, and the Mansell field as well as holding an interest in the Erskine field in the Central North Sea. It derives maximum revenue from sale of Gas.

Beach produces oil, gas, and gas liquids from numerous joint ventures in the onshore Cooper and Eromanga basins. Beach merged with Cooper Basin joint-venture partner Drillsearch Energy Limited in March 2016, which increased equity production to about 10 million barrels of oil equivalent. This more than doubled to over 20 million barrels of oil equivalent following the successful purchase of Lattice from Origin Energy in 2018. The average field life is around seven years based on forecast production and 173 mmboe of proven and probable reserves. We credit less than 15 years, assuming some additional conversion of 2C contingent resources into reserve category with drilling. Shale gas resources are blue-sky.

Navigator Holdings Ltd owns and operates liquefied gas carriers, which include a fleet of handysize liquefied gas carriers. The company also owns a share in an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel (the Ethylene Export Terminal) through a joint venture (the Export Terminal Joint Venture). Company play a vital role in theglobalised liquefied gas supply chain, providing gas transportation solutions for energy companies, industrial users and commodity traders.

United Energy Group Ltd is principally engaged in the investment and operation of upstream oil, natural gas, and other energy-related businesses. The company has two reportable segments; Exploration and production, and Trading. The Exploration and production segment which generates key revenue includes activities relating to the exploration and production of crude oil and natural gas in Pakistan, Middle East, and North Africa. The Trading segment represents its activities relating to the trading of petrochemicals. Geographically, the firm has operational footprints in Pakistan, Singapore, Egypt, United Arab Emirates, Hong Kong, Switzerland and Iraq which is also its key revenue generating market.

Borr Drilling Ltd is a drilling contractor that owns and operates jack-up rigs of modern and high-specification designs providing drilling services to the oil and gas exploration and production industry. The company operates a fleet of around 16 jack-up drilling rigs. Geographically the activities are carried out through Norway.

Equital Ltd provides real estate management services and rental services. The company also provides oil and gas exploration services.

Afriquia Gaz is a Morocco-based company engaged in the business of distributing liquefied petroleum gas (LPG) such as butane, propane and its by-products. The company is also involved in the import, export, trade, refining, storage, stocking, transportation, deposit and administration of LPG. It markets its products under five brands namely Afriquia Gaz, Tissir Gaz, Campingaz, Ultragaz and National Gaz.

North Atlantic Energies operates within the downstream oil sector in France. The company supplies products used in various sectors of modern society and participates in efforts to reduce the carbon impact of its activities. Its offerings include: Petrol, Diesel, Heating Oil, Marine Fuels, Jet Fuels.

SK Gas Co Ltd supplies and distributes liquefied petroleum gas In Korea and internationally. The company is involved in Liquefied petroleum gas marketing and trading business, Liquefied petroleum gas import terminal and tank terminal business and propane de-hydrogenation business. The company mainly operates in Korea, China, Singapore, U.S.A and UAE.

Dana Gas PJSC is a Middle Eastern natural gas exploration and production company. It operates several assets in Egypt, the Kurdistan Region of Iraq, and the United Arab Emirates. The company's possession of assets includes both onshore and offshore assets. Assets are held through government concessions. Dana Gas operations are divided into several subsidiaries that either engage in exploration and production, gas sweetening, gas transmission, or gas processing. The Gas and condensate have contributed maximum of its revenue.

Yantai Wanhua Petrochemical is a wholly owned subsidiary of Wanhua Chemical Group that operates a cluster of petrochemical production units in Yantai, China. The facility produces high-value chemicals including propylene oxide, tert-butyl alcohol, acrylic acid, and butyl acrylate, supplied in part through long-term feedstock agreements such as a supply arrangement with Kuwait Petroleum. In 2025, Kuwait's Petrochemical Industries Company acquired a 25% stake in the business, its largest investment in China's petrochemical sector to date.

Yinson Production is a Kuala Lumpur-headquartered provider of FPSO vessels and integrated offshore production solutions. The company designs, builds, owns, and operates floating production storage and offloading units for oil and gas fields. It manages a fleet including FPSO Adola servicing Nigeria's Okono-Okan field and FPSO Atlanta for Brazil's Santos Basin. Acquired by Yinson Holdings in 2019, it employs over 1,000 staff across bases in Malaysia, Angola, and Brazil.

TANAP is an Ankara-headquartered operator of the Trans-Anatolian Natural Gas Pipeline spanning 1,811 kilometers from Azerbaijan through Turkey to Europe. Commissioned in 2018, it transports 16 billion cubic meters annually of Shah Deniz gas from the Caspian Sea, supplying Greece, Bulgaria, and onward markets. TANAP partners with SOCAR, BP, and Botas in compressor stations across eastern Anatolia to eastern Thrace.