Cunningham Natural Resources Corp. (CNRC) have announced that Aruna Holdings LLC has acquired an eighty percent (80%) ownership interest in the company. The landmark deal includes a change of name to Surya Oil and Gas Corp. (SOGC), a New Board of Directors and Management Team, and the licensing and deployment of Surya Energy Services’ proprietary breakthrough Kubera™ technology.
With Aruna Holdings’ participation comes its association with Surya. Surya’s Kubera™ technology provides advanced hydrocarbon detection for operators globally, redefining drilling efficiency with the success rates for new well drilling at up to 95% effective.
Following an in-depth initial review of Cunningham’s current leases, Kubera technology analysts have already pinpointed significant opportunities to expand and optimize resource extraction. The existence of dozens of Cunningham wells will reduce the costs to tap those reserves, since new wells will not need to be started in many cases. As a result, this acquisition will transform the operational landscape of CNRC and facilitate a rapid uplift in energy production and technological integration across the industry.
Additionally, the company is working on investment commitments of up to over $1 billion with up to $50 million earmarked for the development of existing and new wells under Cunningham Energy, LLC in West Virginia, Texas and other states.
The company’s new Board of Directors is led by seasoned businessman and Chairman Manish Patel. Mr. Patel is joined by Director and new Chief Executive Officer, Hemal Rathod, a former banker and successful businessman and entrepreneur, and Director Frank Kristan, who will provide continuity to the company’s past operations and organization.
The company’s new name will be Surya Oil & Gas Corp. It plans to register with existing oil and gas partners in India to provide for energy trading and investment opportunities later this year.
“Meeting with Surya’s partners in New Delhi in April, cemented our shared vision for a future where advanced technology and strategic investments drive the energy sector forward,” said Frank Kristan, CNRC Director. “We are excited to leverage Kubera’s proven capabilities to capitalize on the rich potential of our leases and contribute to a transformative era in natural resource development.”
“Aruna’s participation in CNRC and the Company’s new management team positions CNRC at the forefront of technological advancement in oil and gas exploration,” added Hemal Rathod, regarding Surya and its proprietary detection technology. “Surya’s Kubera™ technology is a game changer, and this partnership signifies a huge leap forward for both CNRC and Surya as we work to maximize growth, asset potential and revenue, while supporting the ambitious targets of Mission 500.”
