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, disclosed in a shareholder letter from new Chairman and CEO Javier Sanguino García, marks the company's formal transition from its legacy history into an energy services company. The change of control was executed on November 6, 2026, and filed with OTC Markets on November 11, 2026, according to the letter distributed via NEWMEDIAWIRE.
Sanguino García, a civil engineer with over 30 years of experience in oilfield services across Venezuela, Colombia, Mexico, Spain, and the United States, emphasized the significant opportunity in Venezuela. He noted that despite holding the world's largest proven oil reserves, Venezuela's production remains far below historical levels due to decades of underinvestment and the departure of many operators. Rebuilding production capacity will require extensive workover services, well testing, coiled tubing, directional drilling, welding, and maintenance—precisely the services Crossfield Energy intends to provide.
The CEO highlighted that even long-standing holdouts like ExxonMobil are now moving to re-engage with Venezuela, signaling a potential reopening of the energy sector. At the same time, the independent oilfield services base that historically supported the industry has been dramatically reduced, creating a competitive vacuum. This combination of a large market opportunity and diminished competition presents a rare chance for early, capable participants to establish meaningful market share.
To address shareholder concerns about dilution, Sanguino García outlined a capital-efficient strategy centered on 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 market access, the company aims to share in operating profits without bearing the full cost of equipment. This model is designed to reduce upfront capital requirements, accelerate mobilization, and lessen dependence on expensive debt and equity financing. Over time, operating cash flow will be reinvested into additional capacity.
The letter also candidly addressed the company's historical debt. Approximately 70% of outstanding debt was exchanged into common stock at $0.01 per share, accounting for a significant portion of the authorized share increase. Certain other conversions were permitted at market price, but the central agreement limits legacy debt conversions to the authorized increase, putting a defined boundary around dilution tied to inherited liabilities. Sanguino García stated that while the company may issue new shares in the future, the philosophy is to build shareholder value through a profitable operating business and disciplined capital allocation, prioritizing structures like joint ventures that limit dilution.
In terms of corporate housekeeping, the change of control has closed, and the new ownership is final. The company has also taken control of its transfer agent, giving management direct oversight of share records. James C. Vowler and William J. Vowler resigned from their positions as officers and board members, and Sanguino García was appointed Chairman and CEO. The company intends to pursue a corporate name change through FINRA to better reflect its new business direction.
Sanguino García also set a tone for future communication, promising measured and accurate updates. He acknowledged that past informal communications may have overstated progress on certain milestones and committed to describing what is done, what is underway, and what remains ahead. More information about Crossfield Energy is available at https://crossfield.energy/.
