Outlook Energy International, Inc. is formed for the express purpose of locating and bringing back on line a refinery in the United States. Outlook Energy has established funding for this purpose and is in the process of locating a suitable refinery. We have located four candidate refineries and are presently reviewing them for purchase. Our primary focus is on downstream refining of crude oil within the petroleum sector. There is an exceptional window of opportunity in the industry at this time for substantial profits due to the shortage of refining capacity and the growing demand for the refined products. The current and projected shortfall of refining capacity in the U.S. has lead to an increasing need for refining capacity. We are seeking to purchase idled refineries, revamp them and bring them into production within one to two years maximum. There is a conservatively estimated range of profit from this venture of $80 to $160 million per year based on a 30,000 to 45,000 barrel per day refinery operating at a 90% on stream factor.
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