Ambit has developed a business plan based on a thorough investigation of Nigerian corporate and tax laws, petroleum production regulations and opportunities. Significant research has also enabled Ambit to:
- Create corporate entities and a corporate structure that achieve the goals of the indigenization program in Nigeria while providing tax efficiency to shareholders
- Deliver twice the net profit that is otherwise available from conventional foreign technical partnership structures to Ambit shareholders
- Create an effective financing vehicle under Nigeria’s indigenization program
Ambit’s founders funded the corporate start up, attracted a strong and independent Board and initial management team.
Management and directors own approximately 15.2% of the equity in the company, while North American and European institutional funds own approximately 12.1% and 38.3% of the company respectively. The balance of approximately 34.4% is held by high net worth individuals based in Canada.
In addition Ambit is determined to:
- Position itself as the go-to indigenous energy company with the technical and financial capability to succeed on its own as well as to partner with other Nigerian E&P companies in achieving success within the energy community
- Conduct all operations in a safe, environmentally and socially responsible manner
- Recognize and implement a community relations initiative. Because our indigenous roots give us a unique perspective on community issues, part of Ambit’s commitment to communities will be the provision of technology for the delivery of potable water to communities in Nigeria
- Maintain a corporate-wide code of ethics
- Maintain a corporate environmental policy of world standard
- Operate under the highest Health and Safety standards to ensure a secure and safe working environment for all employees