Glossary
ABI
Association of British Insurers
Adamantine
Adamantine Energy (Kenya) Limited, the current operator of, and holder of a 50% participating interest in block 11B
AGM
Annual General Meeting
AIM
the market of that name operated by the London Stock Exchange
Articles of Association
the internal rules by which a company is governed
BBL or bbl
barrel of oil
bcf or bscf
billion standard cubic feet of gas
BEAA
Bomono Exploitation Authorisation Application
Block 11B
the production sharing contract between the Republic of Kenya, Adamantine Energy (Kenya) Limited and Bowleven (Kenya) Limited, dated 30 May 2012, in respect of the area of approximately 14,287 km² onshore Kenya and designated as block 11B; or, as the context may require, the contract area to which this production sharing contract relates
Board of Directors
the Directors of the Company
boe
barrels of oil equivalent
Bomono Permit
the production sharing contract between the Republic of Cameroon and EurOil, dated 12 December 2007, in respect of the area of approximately 2,328km² comprising former blocks OLHP-1 and OLHP-2 onshore Cameroon; or, as the context may require, the contract area to which that production sharing contract relates
Bowleven or Bowleven plc
Bowleven plc (LSE: BLVN) and/or its subsidiaries as appropriate
CFA
Central African CFA Francs
Companies Act 2006 (‘the Act’)
the United Kingdom Companies Act 2006 (as amended)
contingent resources
those quantities of hydrocarbons that are estimated to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable
CSOP
Company share option plan
EBT
employee benefit trust
Etinde Permit
the Etinde Exploitation Authorisation (EA) Area. The Etinde EA, granted on 29 July 2014, covers an area of approximately 461km² (formerly block MLHP-7) and is valid for an initial period of 20 years
EurOil
EurOil Limited, an indirectly wholly-owned subsidiary of Bowleven plc, incorporated in Cameroon
FID
final investment decision
First Oil
First Oil Expro Limited, a private UK independent exploration and production company, based in Aberdeen. On 19 February 2016 First Oil went into administration
FLNG
floating liquefied natural gas
G&A
general and administration
GIIP
gas initially in place
Group
the Company and its direct and indirect subsidiaries
HSSE
Health, safety, security and environment
IA
Investment Association
IAS
International Accounting Standards
IFRS
International Financial Reporting Standards
JV
joint venture
km
kilometres
km²
square kilometres
LNG
liquefied natural gas
LPG
liquefied petroleum gas
LTI
lost time incident
LTIP
long term incentive plan
LUKOIL
LUKOIL Overseas West Project Ltd, a subsidiary undertaking of OAO LUKOIL
Macquarie
Macquarie Capital (Europe) Limited
mmbbls
million barrels
mmboe
million barrels of oil equivalent
mmscf
million standard cubic feet of gas
NewAge
NewAge (African Global Energy) Limited, a privately held oil and gas company
NewAge Group
NewAge and its subsidiaries
NOMAD
nominated adviser
Ordinary Shares
ordinary shares of 10 pence each in the capital of the Company
P10
10% probability that volumes will be equal to or greater than stated volumes
P50
50% probability that volumes will be equal to or greater than stated volumes
P90
90% probability that volumes will be equal to or greater than stated volumes
PEA
Provisional Exploitation Authorisation
PSC
production sharing contract
Q1, Q2 etc..
first quarter, second quarter etc..
scf
standard cubic feet. Note: saying 6,000 scf is same as saying 6 mscf but the scf way is more common so we tend to use that.
shareholders
means holders of ordinary shares and ‘shareholder’ means any one of them
SNH
Société Nationale des Hydrocarbures, the national oil and gas company of Cameroon
tcf
trillion cubic feet
TSR
total shareholder return
US
United States of America
$ or US Dollars
United States of America Dollars
£ or GB Pounds
Great Britain Pounds Sterling