Verenex Energy Inc.
Verenex Energy Inc. (Verenex) is an independent upstream energy company. The company is engaged in acquisition, development, exploration and production of oil and gas properties. At present, the company carries out its business activities in Ghadames basin in Libya, the Bay of Biscay offshore France and the Bottrel area of Alberta in Canada. Further, the company is also looking and exploring new opportunities in other North African countries like Algeria, Tunisia and Egypt. The company carries out its operations through its wholly owned or partially owned subsidiaries namely Vermilion Exploration SAS (France), Verenex Energy Area 47 Libya Limited (Jersey), Verenex Energy Area 47 Libya Limited (Libya Branch). It is headquartered at Calgary in Alberta, Canada.The company reported revenues of (Canadian Dollars) CAD 2.72 million during the fiscal year ended 2008, a decrease of 37.00% over 2007. The operating profit of the company was CAD 2.07 million during the fiscal year 2008, an increase of 117.00% over 2007. The net profit of the company was CAD 2.04 million during the fiscal year 2008, an increase of 117.00% over 2007.
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