Dec 18, 2013
MSPC today announces that it has executed an LOI with the land owner to acquire a one-third interest in a 20,000 m2 lot to build a 120-room hotel in the Venezuelan Orinoco Oil Basin.
Mr. Brito, stated, "This is a play on the biggest investment in oil and gas development in the world for the coming 15 years. We will be one of the first hotel entrepreneurs to be present in the development of the Orinoco Oil Belt Basis. Venezuela has recently had this area certified as the biggest oil reserves in the world, according to the state oil company, PDVSA. According to forecast, once finished this hotel will carry an average occupancy rate of over 90%, which is extraordinary for a business hotel in Latin America. Additionally, we expect to be able to charge very high room rates, even though this will be a 3-star hotel. Our forecast is for this operation to generate approximately $3 m in EBITDA. Additionally, this hotel can be a foothold in the area and the first to come since PDVSA's forecast calls for a development of at least 50 hotels in the area to satisfy forecasted demand. This project gives us the opportunity to be pioneers in the hotel industry in the Orinoco Oil Belt. It's an exciting opportunity for us."
So now not only does MSPC have an extremely low float but theyve always got news this morning attracting traders!
This could be a heck of a day for MSPC!
Good Luck!
-The Professor
