Unique Global Innovative Solutions Corporation (OTC: UGIZ) has announced the acquisition and launch of Crossfield Energy LLC, a new operating business focused on oilfield services in Venezuela. The move marks the company's formal transition from its legacy history into an energy services company with a clear mission, according to a shareholder letter from Javier Sanguino García, the company's new Chairman and CEO.
Sanguino García, a civil engineer with over 30 years of experience in oilfield services across Venezuela, Colombia, Mexico, Spain, and the United States, assumed leadership following a change of control executed on November 6, 2026, and filed with OTC Markets on November 11, 2026. In the letter, he outlined the substantial opportunity in Venezuela, which holds the world's largest proven oil reserves but has seen production fall far below historical levels due to decades of underinvestment and the departure of many operators. Rebuilding capacity will require extensive workover services, well testing, coiled tubing, directional drilling, welding, and maintenance—precisely the services Crossfield Energy intends to provide.
The competitive landscape is unusually favorable, Sanguino García noted. Many independent oilfield services providers have ceased operations or left the market, creating a vacuum that allows early entrants to establish meaningful market share. He also pointed to ExxonMobil's reported moves to re-engage with Venezuela as a signal that the sector's reopening is moving from possibility toward reality.
To capitalize on this opportunity without overburdening its balance sheet, Crossfield Energy plans to form joint ventures with established U.S. and Venezuelan operators that already own idle or underutilized equipment. By combining their equipment with Crossfield's local operating capabilities and relationships, the company aims to share in operating profits without financing the full cost of equipment packages. This capital-efficient model is designed to reduce upfront capital requirements, accelerate mobilization, and limit dependence on expensive debt and equity financing.
Sanguino García also addressed shareholder concerns about dilution. He disclosed that approximately 70% of the company's outstanding debt was exchanged into common stock at $0.01 per share, and that conversions of legacy debt are capped at the amount of the authorized increase, putting a defined boundary around dilution tied to inherited liabilities. While he did not rule out future share issuances, he committed to a philosophy of building shareholder value through a profitable operating business and disciplined capital allocation.
In conjunction with the transition, the company intends to pursue a corporate name change through the Financial Industry Regulatory Authority (FINRA) to better reflect its new direction. Additionally, UGIZ has taken control of its transfer agent, completing the change of control. Former officers and directors James C. Vowler and William J. Vowler resigned, and Sanguino García was appointed Chairman and CEO.
For more information, the company's website is https://crossfield.energy/. The announcement was disseminated via NEWMEDIAWIRE.
