Maple Renewable / History and Background

History

The predecessor company to Maple Renewable Resources was established in 1986 in Dallas, Texas USA to invest in oil and gas related entities and assets. To take advantage of the ever-changing nature of the energy industry, Maple Resources diversified and formed subsidiaries to engage in conventional energy, renewable energy, and commodity infrastructure development. The Maple history is a testament to the Maple teams’ past, present, and future focus of creating high value-added energy projects.

1986–1992
Maple was involved in oil and natural gas drilling and exploration, operating over 450 oil and gas wells in Texas, Oklahoma, Kansas, and Utah. Maple also constructed and operated natural gas pipeline and gathering systems located in Texas, New Mexico, Oklahoma, Utah, and Kansas. It developed and operated an integral gas processing, gathering, and marketing project utilizing 10 gas processing plants and 800 miles of pipelines, producing 175 million cubic feet per day of natural gas and 15,600 barrels per day of natural gas liquids.

1986
Maple Resources was established to invest in oil and gas related entities and assets. Initially a natural gas production and gathering company, Maple quickly developed a sizable asset base primarily through acquisitions.

1986–1988
Maple completed nine acquisitions in the United States: five production acquisitions representing interests in almost 1,000 oil and gas wells, and four acquisitions of gas gathering, processing, and transmission systems including 350 miles of gas pipelines.

1989
Maple acquired two U.S. companies from Cabot Corporation at a cost of US$80 million. These two companies owned ten gas processing plants with a total inlet capacity in excess of 300 million cubic feet per day, as well as more than 800 miles of gas gathering and transmission facilities.

1992
Maple Resources sold substantially all of its existing US-based assets and began to pursue energy projects outside the U.S.

1992
Maple co-founded an oil field equipment and service company based in Lima, Peru. Condor Oilfield Services Corporation provided equipment and services to the oil fields in the Talara region and the jungles of Peru. Maple began discussions with the national oil company of Peru, Petroleos de Peru- Petroperu S.A., concerning the development of the Aguaytia gas field, a major natural gas field in Peru. Maple recognized the opportunity to convert the field’s gas reserves into electricity through the development, construction, and operation of a thermoelectric power plant near the gas field, thereby positioning itself for the projected growth of Peru’s electricity demand. In Peru, Maple Resources managed its business through The Maple Gas Corporation del Peru Ltd (Maple Peru) until 2007.

1993
Maple won an international tender held by the Government of Peru for the Aguaytia gas field, the Maquia and Agua Caliente oil fields, and the leasing of the Pucallpa Refinery. That same year, Maple began developing the Aguaytia Project, an integrated natural gas and electric power generation and transmission project.

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1994
In conjunction with winning the international tender, Maple executed two hydrocarbon concession agreements with Perupetro S.A. and one refinery lease agreement with Petroperu S.A. Concurrently, Maple assumed the operation of a Peruvian refinery and products sales plant, near the city of Pucalpa, in the central Peruvian jungle, as well as the operation of two oil fields.

1994–1998
Maple was responsible for all major aspects of the Aguaytia project, including acquiring the exploration and production license to Block 31-C, obtaining all material permits required to commence operations, arranging all project financing requirements, and overseeing construction and commissioning of the project. This US$273 million project involved the first commercial development of a natural gas field in Peru, as well as the construction and operation of over 180 miles of hydrocarbon pipelines, a gas processing plant, a fractionation facility, a power plant, and the related 240 miles of electricity transmission lines. The Aguaytía Project was financed principally through equity provided by a consortium of international energy companies and long-term debt provided by multilateral institutions such as the Inter-American Development Bank.

1998
The Aguaytía Project began commercial operation in 1998.

2000
Maple Peru began evaluating sugar and ethanol projects in Peru. The expansion of global production and demand for ethanol, among other things, convinced Maple to take advantage of Peru's advantageous agricultural conditions in which to grow sugar cane. The Ethanol Project consists of approximately 14,000 hectares of land acquired near the North coast of Peru with a water reserve allocation in a sufficient quantity to grow sugarcane. In the first phase of Maple's development plan, approximately 8,000 hectares are expected to be used for sugar cane planting, harvesting, and milling in order to feedstock a distillery with capacity to process 35 million gallons of ethanol per year. The estimated cost of the project is US$254 million, and the project is projected to be in commercial operation in 2011.

2006
Maple purchased Carpenter Creek LLC, a company that owns interests in coal prospects in Montana. Maple’s coal project in Montana involves the commercial development of two world-class coal deposits. One of the last remaining high-BTU, low sulfur and large surface-mining coal deposits left in western North America. The two deposits are extremely large, estimated at more than 550 million tons. Maple plans to distribute its coal to existing coal users in North America, India and the Far East.

2007
Through a series of transactions, Maple Peru undertook reorganization and restructuring. The resulting newly-created company, Maple Energy plc, was registered in Ireland and its shares were listed on the London Stock Exchange Alternative Investment Market (AIM) and the Lima Peru Bolsa (listed: MPLE).

2008
The privately held Maple Renewable Resources Corp was established to develop, own, construct, and operate renewable energy and infrastructure projects on a world-wide basis. Wind farm, solar farms and biocombustible development opportunities are being pursued in Africa, South-America and the United-States.