Investment Proposition
- Focused Asia Pacific E&P specialist;
- Strong, long-lived cashflows from Maari/Manaia fields, offshore New Zealand, re-invested to fund future capital program. Low risk, new reserves appraisal drilling and mid-life field upgrade program began in Q3 2013 and will complete in Q1 2015;
- Beibu Gulf field development, offshore China, on stream in March 2013; currently 12,000 bopd. Additional field to be developed in Phase II;
- Large gas/condensate resources and acreage position onshore Papua New Guinea. Condensate production from Stanley field to commence in 2016. Potential for long-life mid-scale LNG project to commercialise gas.
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