Annual General Meeting Chairmans Address 30 May 2013
Overview Share Price Highlights since last AGM Highly prospective acreage in Morocco with 25% equity four drillable prospects with total unrisked recoverable oil of 867 MMbbl (P50) fully funded exploration program well to be…
Share Price Source: ASX 3
Share Price Percentage change from 52-week high to closing price on 29 May for Australian, small cap…
Highlights Sept 2012 Board Restructure Sept/Oct 2012 Capital raising of 7 million Nov 2012 Appointment of Chief Financial Officer Dec 2012 Signed Farmout Agreement for Moroccan acreage Dec 2012 Completion of processing of Tarfaya…
Company Acreage 6
Morocco Drilling in the area to start in Q42013 7
Schematic for TAO-1 8
Australian permits WA-442P and NT/P81 Exploration Permits Farmout Agreement signed with CWH Resources. Funding A35 million to earn 70% equity. TPT 27%, Ansbachall 3% Planning for 3D seismic survey underway NT/P83 TPT 100%…
Planned activities Future Planned Activities Morocco Finalise Transfer of operatorship to Galp Assaka 3D Seismic Interpretation Energia Plan drilling campaign Drill well Australia Transfer of operatorship to CWH WA-442-P and…
Current status Balance Sheet improvement Capital raisings September/October 2012 Repayment of Morocco past costs (7.5 million) on government approvals Refund of bank guarantee (3 million) on government approvals Fully Funded Two…
Now and the future New venture strategy Africa Onshore and shallow water Preserve cash until market conditions improve Focus on deals which are sensitive to current market conditions Balance of exploration, development or…
Loading...
