Since the early twentieth century the physical and political map of the island of Haiti, erected in 1908 by Alexander Poujol and Henry Thomasset, reported a major oil reservoir in Haiti near the source of the Rio Todo El Mondo better known today as the River Thomonde. The deposit of oil in question straddles the boundary between the boroughs of Hinche and Mirebalais in a mountainous area located at the foot of the chain of the Black Mountains, due west of Thomond.
On June 2nd of last year,
Chevron Corporation announced that it had entered into a securities purchase agreement to sell its fuels marketing businesses in Haiti to Medley Capital Limited, which is owned by GB Group. GB is a Haiti-based industrial group with core holdings in energy, steel and food products. Some of
the items discussed in this press release were forward-looking statements about Chevron's activities in
Haiti. Words such as "anticipates," "expects," "intends," "targets," "projects," and "believes," were used to describe future plans. Under the terms of the agreement, Medley Capital Limited would acquire 58 service stations, a portfolio of approximately 120 commercial and industrial customers, and other lines of business. Other terms of the agreement were not disclosed.
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