Review of the 2011 year
- The Company listed on the TSE in February 2011 and is now approximately 30% owned In North America
- Board strengthened
- Active 2011 Drilling program – 65 new wells drilled across Sugarkane Field
- Significant production, revenue and earnings growth
- Dramatic increase in certified 2P reserves during 2011 and expected to increase further
- Maintained conservative fully funded Balance Sheet
- Patient evaluation of opportunities
- Established Houston office
- New world class unconventional resource Operator of Sugarkane Field – Marathon Oil Company
- Fastest growing ASX200 E&P company for the 2nd year in a row.
2012 to date
- $200 million unsecured note issue in the US
- Increased working interest in Sugarkane Field via Sugarloaf 6% WI acquisition for US$95 million
- $124 million equity issue to maintain fully funded, conservative Balance Sheet status
- Rapid acceleration in development under way
- First quarter revenue increased to US$40 million
- Production grown from 4,257 boepd before royalties average in 4th quarter 2011 an estimated
daily production in April 2012 of 6,818 boepd before royalties
- Unconditional cash offer made for Eureka Energy Limited with a value of approximately $107
million.
To view Presentation please download PDF below:
