Key Focus Addressing the oil price environment Benefitted from strong cash flows throughout the year initially from selling oil at high prices later in the year from our rolling hedging programme Total charges to the Company for net…
Strategy and Business Model Conventional and unconventional businesses complementary: Expertise/knowledge of onshore operations In addition to enhancing performance in existing fields technologies being utilised/trialled can…
Current Status of Basinal Understanding North West Ellesmere Port results: Barton Moss results: Ince Marshes results: Total Organic Carbon (TOC): Total Organic Carbon (TOC): Total Organic Carbon (TOC): Average 2.4 Average 1.9…
Planning and Community Engagement Infrastructure Act 2015 Secondary legislation Local councils Under resourced Overwhelming pressure from outside influences Early and comprehensive stakeholder engagement building strong and…
Shale development - 12/18 month outlook Acquisition of further seismic data Secure new sites in North West and East Midlands Further planning applications including hydraulic fracturing Drill further exploration wells e.g. PEDL…
Shale Gas - exploration to production schematic 9
Conventional Asset Opportunities Production over next 12 months expected to be maintained at c.2,750 boepd At 31 March 2015, 2P reserves were 12.63 mmboe* and 2C was 12.32 mmboe* Focus on sustainable long-term production…
Financial Highlights Oil price fall mitigated by hedging programme in 2014/15 (Unaudited) Year to Year to 31 31 Realised oil price 2015 2014 March March Pre hedging 84.1 106.1 20151 20145 Post hedging 94.0 102.9 Revenues 58.2m…
Net back per barrel Average post hedging price per barrel US94 (2014: US102.9/bbl); 5.9m realised in the period from hedging Net back per boe (on a profit and loss basis, post hedging) was US45.5 (28.0) (2014: US53.1 (33.3)).…
Summary and Outlook Financial flexibility 46.4m on the balance sheet as at 31 May 2015 Appraisal assets Combined carried gross work programme of up to 285m from our farm-in partners Working with partners to execute five year…