It is our vision to build an African focused exploration and production company which in time becomes renowned for its ability to consistently create and realise material shareholder value through exploration-led organic growth and niche acquisitions.
Creating and realising value through material exploration success and development:
- Build a sustainable E&P company with a production base and infrastructure-led exploration focus
- Convert current portfolio resources to reserves
- Create and realise value through material exploration success and development
- Seek value adding partnerships and niche acquisitions that offer a strategic fit
- Foster strong external partnerships and in-country relationships
Near-term business objectives
1) Maximise the value of Etinde by ensuring that the appraisal drilling is carried out as soon as possible and that FID is achieved quickly thereafter.
2) Secure the Provisional Exploitation Authorisation (PEA) and seek to farm-out Bomono in order to facilitate early cashflows and further appraisal/exploration activities.
3) Acquire an asset or business that provides sufficient production and associated free cash flow to cover our G&A, with continual review to ensure this is the right fit for the organisation as it evolves.
4) Find an exploration opportunity where we can deploy our existing cash resources with a view to creating material shareholder value through the drill-bit.