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BROOGE ENERGY LIMITED

(BROG)
  Report
Delayed Nasdaq  -  11:48 2022-09-22 am EDT
8.450 USD   +9.46%
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Brooge Energy Ltd. Oil Storage Terminal Infrastructure Proves Outstanding Against Unprecedented Floods in Fujairah

08/08/2022 | 04:31pm EDT

Brooge Energy's facilities in the Port of Fujairah in the United Arab Emirates are secure with no damages

NEW YORK, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Brooge Energy Ltd, (“Brooge Energy” or the “Company”), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage plus related services, in addition to the planned expansion of its infrastructure into green hydrogen and green ammonia productions, today announced that the floods in the Port of Fujairah did not affect its facilities and they are secure.  Brooge Energy's strong management team and technologically advanced infrastructure has secured the oil storage facilities, which are proving to be one of the highest technologically advanced units in the world.   

Brooge Energy's senior management team provided world class guidance and navigation on a 24/7 basis during the flooding. Working in coordination with Fujairah Authorities, the Company provided safety and security of its valuable assets, which secured the facilities from damage.

The Company said: "Fujairah is experiencing unprecedented floods, which the region has not seen in over 25 years.  Our management team has worked diligently through the storm, and we are proud to say that our facilities and the infrastructure is secure.  With oil storage in high demand in the region, we are proud that our facilities have been able to withstand the impacts from this unusual weather, which we believe provides another competitive advantage for customers and their storage needs.  We are extremely grateful for the support and coordination with the authorities of the Emirates of Fujairah, which is a huge part of our success story." 

About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure provider now intending to focus on renewable energy infrastructures and biofuels, next to clean petroleum products, crude oil storage and related services. The Company conducts its business and operations through its subsidiaries Brooge Renewable Energy, Brooge Petroleum and Gas Investment Company FZE, and Brooge Petroleum and Gas Investment Company Phase 3 FZE (BPGIC). BPGIC, the Company’s primary operating subsidiary that focuses on midstream oil storage and other services, is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. The Company differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. For more information, please visit at www.broogeenergy.com.

Forward-Looking Statements
This press release contains statements that are not historical facts, including the Company’s anticipated expansion towards green hydrogen and green ammonia productions  and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including availability of labor and other resources needed to for completion of a new green hydrogen and ammonia plant, timing of obtaining regulatory approvals needed with respect to the new facility, the Company’s ability to complete construction and initiate operations of the new facility on the anticipated timeline or at all, the Company’s ability to maintain the lease for the new facility, and other risks described in public reports filed by Brooge Energy with the U.S. Securities and Exchange Commission. Forward-looking and other statements in this press release regarding our environmental and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the U.S. Securities and Exchange Commission. In addition, historical, current, and forward-looking environmental and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Brooge Energy does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212-896-1254 BROG@kcsa.com


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Financials (USD)
Sales 2020 41,8 M - -
Net income 2020 17,2 M - -
Net Debt 2020 237 M - -
P/E ratio 2020 52,6x
Yield 2020 -
Capitalization 926 M 926 M -
EV / Sales 2019 24,2x
EV / Sales 2020 32,5x
Nbr of Employees 20
Free-Float 17,9%
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Managers and Directors
Nicolaas Lammert Paardenkooper Chief Executive Officer & Director
Yousef Mahmoud Mohammad Al Assaf Chairman
Simon Madgwick Independent Director
Bryant B. Edwards Independent Director
Tony Boutros Independent Director
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