Strategy
Our strategy is to acquire and develop premier petroleum assets in stable locations to generate significant returns.
We have a diversified portfolio of assets which we have selected using the following strategic principles:
- We have clear title to our assets and they are located in stable economic environments
- We hold a significant interest in each asset.
- Our assets present commercialisation opportunities which generate positive cash flow in the near term
- Our assets are near existing infrastructure and in low operating cost environments to protect operating profits
- Our assets provide large exploration prospects to deliver significant upside in the long term
We will realise the value of this strategy over the coming years by:
- Developing our North Sea fields, Lybster and Knockinnon, quickly and cost effectively to generate significant additional cash flow
- Maximising the potential of our existing cash positive licences in the Rharb basin, onshore Morocco
- Drilling our high potential Fès permit, onshore Morocco
- Drilling the best prospects in our North Sea acreage
- Growing our operations in the Barnett shale into a significant business
- Continuing to acquire additional assets which are consistent with our strategic principles