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NOVEMBER 2009
WINFIELD has chosen to list its shares on the Canadian National Stock Exchange, CNSX.
To meet the CNSX minimum listing requirements WINFIELD must retire all debt and have $50,000 in general working capital.
WINFIELD is financing by way of a $0.05 Units Private Placement.
The BCSC has granted Winfield a Partial Revocation of a Cease Trade Order to permit WINFIELD to raise funds specifically related to the payment of WINFIELD’s 2008 Audit and the Interim Financial Statements, and Filing Fees.
WINFIELD is now completing the 2008 Audited Financial Statements and the Interim Financial Statements for the period ending June 30, 2009.
Once completed, the statements will be incorporated into our CNSX Listing Statement.
At that point Winfield Resources Limited will be called to trade on the CNSX Trading Symbol “WWF”.
The Company’s primary business is the engineering, procurement, construction and management of crude oil refineries. The Company’s intended business includes the building, owning and operating of one or more oil refineries in North Africa.
In 2008 WINFIELD was awarded License’s to build, own and operate 300,000 barrel per day oil refineries in both Ras Lanuf, Libya and Nouakchott, Mauritania.
Each License has a term of 25 years. The Licenses are the first ever awarded to the private sector.
Winfield has received approval from the National Oil Corporation (“NOC”) of Libya to a crude oil supply arrangement. Winfield will purchase 150,000 barrels per day of crude oil from the NOC, specifically Amna and Sirtica blends.
Winfield will purchase the remaining 150,000 barrels per day from other sources where the crude oil is heavier than the Libyan blends and where the corresponding discounts support better refinery economics.
Winfield has engaged KBC Process Technology Ltd. of Surrey, UK, under a Services Agreement to provide consulting services and technical support to include refinery configuration review; refinery product yields and qualities; marketing plans; technology selection and licensor selection; energy efficiency review; project design basis document review and project schedule strategy review.
KBC has also been engaged to create a bankable feasibility report to within +/-10% final project costs.
KBC Process Technology Ltd. is the leading engineering consultancy in the oil refining sector.
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The refinery is estimated to cost Five Billion Dollars and to have a four year payback of debt, through operating revenue.
Winfield has engaged Devereux Project Finance of London UK (“DPF”) to act as the Company’s project finance consultant, to source, negotiate and arrange an acceptable offer of finance for the engineering, construction and operation of the proposed oil refinery.
WINFIELD will finance its refineries through non-recourse loan instruments. This means of finance is experiencing historically low interest rates. By using “borrowed money” WINFIELD avoids equity dilution.
The portion of a five billion dollar oil refinery attributable to each outstanding share is significant.
Regards,
MICHAEL FOLEY, President. T. 604 351 3937
