AGM Institute of Directors Pall Mall 11 am, 30th June 2014
Financial Summary as at 31 December 2013: 2013 2012 Profit (Loss) (2,955,526) (1,280,504) Cash Balance 23,289,453 56,435,057 (including restricted use cash)
Farm-out The farm-out process is on-going Reaction to our discovery and surrounding prospectivity has been very encouraging this gives us confidence that our technical case is robust Further news will be provided as soon as a…
Falkland Islands Sea Lion Scotia Loligo Toroa Darwin Stebbing B&S acreage 0 Km 200
Darwin Resource Estimate Upgrade Located approximately 150 km south of the Falkland Islands Water depth: 2km Comprises: Darwin East & Darwin West tilted fault blocks Hydrocarbon Phase: Gas Condensate Reservoir quality: very good…
Darwin Discovery Well 61/17-1
Darwin East & West
Darwin East & West
Darwin West Additional Reservoir Potential
New Data - 3D Coverage 2,517 sq km Toroa Darwin Stebbing 61 62 63 B&S 3D (2008) area 3D (2013) area 50 km
New Data Work in Progress We are making tangible progress in our understanding the hydrocarbon system of the South Falkland Basin new data has provided important insights The greater Darwin area represents the coming together of…
Prospect Inventory Risk Profile Play Type Risk Profile Key Risk Examples Early Cretaceous Low Trap Darwin, Covington, shallow marine Chaffers.. Early Cretaceous Moderate Seal Burgess, Bute, deep water fans Middleton.. Upper…
Early Cretaceous Prospects & Leads
Early Cretaceous Plays (East West line) West East
Early Cretaceous Plays (North South line) South North
Early Cretaceous Plays West Darwin Discovery East Sulivan Prospect Bute Prospect
Short Term Objectives Complete the farm-out of our acreage Mature our prospect inventory Join the Falklands rig consortium Continue planning our future appraisal and exploration programme
Key Messages Our technical analysis indicates that the Darwin discovery is a significant resource Prospectivity of our acreage is looking really exciting Our short term priority is to secure partners to assist in the next phase of…