What started out as a risky investment into a plot of land with possible oil and gas in a remote area turned into a diversified boutique resources group with a global presence.
Years of working with Oil & Gas companies and other major players in the resources sector was at the origin of Rolf Hess’ decision to set out and look for investment opportunities for himself and maybe some of his family and close friends. A long trip across the pond was about to take place.
This period was truly marked by excess on both ends of the spectrum. From banks lining up to lend money, to record oil prices, to a historic oil price decay at unseen speeds, and the obvious total draught in credit availability. We survived it all, and thanks to the business principles of our Founder and Chairman, we ended up stronger than ever.
Oil prices finally bottomed out, and we survived the slump unscarred, with only a couple of losing quarters. Due to the quick, and almost straight fall in oil prices, a lot of smaller, and even some bigger oil companies suffered, and this opened up new opportunities for CRG to secure additional working interest at very favorable terms.