Working towards 2016 mission (Page 13): • 100 mmbbls 2P/2C Reserves • 10,000 bbls/day of production • Australia and United Kingdom are core assets • Oman has exploration potential
Successfully awarded a concession which includes a discovered oil accumulation in one of Egypt’s most prolific basins (page 28).
1P Reserves1: 7.5 MMstb 2P Reserves1: 9.3 MMstb 3P Reserves1: 11.4 MMstb Prospective Resources1: up to 166 MMstb
DRILLING OF 4 more wells this year (page 34) - 1 in Australia (August) - 3 in Norway in 2H of 2015
FlowerblossomIt should be pretty obvious why they got a very good deal - Hibiscus Chairman Mr. Zainul Rahim who was formally the Chairman of Shell Companies Egypt and Deputy Chairman Shell Companies Malaysia - must be instrumental with Dr Ken in the North Sea and Egypt deal.
aimhiYes, having watched this counter from the sidelines - with interest, I would suggest that this latest announcement offers the catalyst that has been lacking. Progress has to-date has been left wanting, but in reading the presentation above, it is clear that all the pieces of the jigsaw are indeed now being firmly put in place to enable a very strong base from which further progress can be made.
Prime production - with tangible asset -within the North Sea is certainly not to be sneered at. Whilst this has come about through realignment of assets by the majors, the fall in oil/gas prices may prove to have been extremely beneficial to the counter, as without the fall, the opportunity may not have arose!! Real and meaningful production coupled with the high potentials in OZ now offer a far greater and significant attractiveness to the counter. And, any northward movement in oil price now offers yet further attractiveness. Following with interest!!!
supernovacant afford petronas, then buy tis bunga raya
Edmund investorOnly a successful turn around from loss to profitable , can convince more investors to buy. So let the results prove the fundamental
Edmund investorOil assets no longer in focus over prolonged bear in crude prices . Better avoid all related oil, gas & commodity stocks