Myanmar-born 'dreamer' snaps up US drilling leases amid industry malaise

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REUTERS: A Myanmar-born perfume entrepreneur and missionary has snapped up nearly half of the oil and gas leases offered by the Trump ...

REUTERS: A Myanmar-born perfume entrepreneur and missionary has snapped up nearly half of the oil and gas leases offered by the Trump administration since August, saying the coronavirus pandemic created an opportunity to buy them cheaply.

Thang's prolific buying underscores the relative disinterest of traditional U.S. oil and gas players in investing in new assets amid low prices and weakened demand. Kathleen Sgamma, president of the trade group Western Energy Alliance, said Thang's approach"didn't seem to have much rhyme or reason to it" and said it shouldn't reflect on the state of the drilling industry.

Thang said she has developed oil and gas previously, but would not say where or give the name of her other companies. She has not partnered with other investors, she said.Thang is secretive about her background and personal life. She is married to Daniel Lim, chief executive of the Kansas City mega-church International House of Prayer, according to the church web site.

 

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