Presentation team Phillip Ihenacho Chief Executive Officer Co-founder of Amaya Capital Partners, an early investor and active supporter of Seven Energy Established and ran Afrinvest for over 10 years Former chairman of the Aureos…
FIRST HALF 2015 Highlights Gas deliveries up by 171% to 57 MMcfpd, now delivering to five gas off-takers Increased gas sales in the south east contributes to an improved operating cash flow Uquo licence area extension adds 19…
South east overview - 1 Reserves and resources split Total: 129 (MMboe) 2P 2C (*) Oil 7 5 Gas 65 52 9% Gas Oil 91% * Pre-licence area extension First half 2015 Highlights Gas deliveries 57 MMcfpd daily average…
South east overview - 2 Uquo licence extension DPR granted extension of the Uquo Marginal field Licence area on May 5th, 2015. Oil (MMbbl) Gas (Bcf) Total (MMboe) Uquo main field pre-licence extension 2C resources 0 40 7 Uquo NE-1…
North west overview Reserves and resources split Total: 222 (MMboe) 2P 2C Oil 68 50 Gas 80 24 53% Gas Oil 47% First half 2015 Highlights Production 47,200 bopd daily average gross production (HY 2014: 46,400 bopd)…
Income statement m HY 2015 HY 2014 Increased gas sales revenue contributions 73% 27% Revenue 144 165 Oil Gas HY 2015 105 39 Cost of sales - Production expenses (109) (90) 90% 10% - Increase in underlift 58 52 HY 2014 149 16…
Balance sheet m HY 2015 Year end 2014 Capital expenditure HY 2014 Intangible assets 136 74 Property, plant and equipment 1,859 1,864 OPL905 64m Other non-current assets 75 63 EHGC Non-current assets 2,070 2,001 HY 2015 264m…
Borrowings Financing initiatives m HY 2015 Year end 2014 Project and Acquisition Finance facilities* 385 355 Closed two facilities in June for a combined 52 million Senior Secured Loan Notes 300 300 Completed the Accugas…
Cash flow m HY 2015 HY 2014 Operating cash flow Operating cash inflows before movements in 81 93 80 working capital 2 12 Working capital movements 2 (29) 70 oil Net cash provided by operating activities 83 64 Purchase of property,…