DOCSLIB.ORG

Rockhopper Annual Report 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Rockhopper Annual Report 2015 ROCKHOPPER EXPLORATION PLC Rockhopper Exploration plc Hilltop Park Mediterranean office: [email protected] Building a well-funded, Devizes Road Via Cornelia, 498 www.rockhopperexploration.co.uk Salisbury 00166 Roma @RockhopperExplo SP3 4UF Italia full-cycle, exploration Telephone +44 (0)1722 414 419 Telephone +39 06 62290270 Company Reg. No. 05250250 led E&P company Report and Accounts for the year ended 31 December 2015 Report and Accounts for the year ended 31 December 2015 Shareholder information Glossary Key contacts AGM Annual General Meeting Registered address Solicitors bbl barrel and head office: Ashurst LLP bcf billion cubic feet Hilltop Park Broadwalk House Board the Board of Directors of Rockhopper Exploration plc Devizes Road 5 Appold Street boe barrel(s) of oil equivalent Salisbury London boepd barrel(s) of oil equivalent per day Wiltshire EC2A 2DA SP3 4UF BOP blow out preventer Principal Bankers bopd barrel(s) of oil per day Mediterranean office: Royal Bank of Scotland plc Capex capital expenditure Via Cornelia, 498 36 St Andrew Square Company Rockhopper Exploration PLC 00166 Roma Edinburgh E&P exploration and production Italia EH2 2YB EIS Environmental Impact Statement ESA Exploration Study Agreement Nomad and joint broker Auditor ExCo Executive Committee Canaccord Genuity Limited KPMG LLP Farm-in to acquire an interest in a licence from another party 88 Wood Street 15 Canada Square Farm-out to assign an interest in a licence to another party London London FDP field development plan EC2V 7QR E14 5GL FEED front end engineering and design FID Final Investment Decision Joint broker Registrar FIG Falkland Islands Government Liberum Capital Limited Computershare Investor FOGL Falkland Oil & Gas Limited Ropemaker Place, Level 12 Services plc 25 Ropemaker Street Vintners Place FPSO floating production, storage and offtake vessel London 68 Upper Thames Street G&A General & Administration expenses EC2Y 9LY London Group The Company and its sunsidiaries EC4V 3BJ GSA Gas Sales Agreement Joint broker HoA Heads of Agreement Merrill Lynch International HSE health, safety and environment 2 King Edward Street IAS International Accounting Standard London IFRS International Financial Reporting Standard EC1A 1HQ JV Joint Venture kboepd thousand barrels of oil equivalent per day kbopd thousand barrels of oil per day KPI key performance indicator Concerns and procedures LoI Letter of Intent General emails LTI Lost Time Incident info rockhopperexploration.co.uk LTIP Long Term Incentive Plan @ MOG Mediterranean Oil & Gas plc Audit committee emails mmbbls million barrels [email protected] mmboe million barrels of oil equivalent mmscfd million standard cubic feet per day Website mscf thousand standard cubic feet www.rockhopperexploration.co.uk mt metric tonne NAV net asset value Shareholder concerns: Premier Premier Oil plc Should shareholders have concerns which have not been PSA Production Sharing Agreement adequately addressed by the chairman or chief executive, PSC Production Sharing Contract please contact the chairman of the audit committee at: scm standard cubic metre [email protected] SIP Share Incentive Plan Whistle-blowing procedures: spud to commence drilling a well Should employees, consultants, contractors or other STOIIP stock-tank oil initially in place interested parties have concerns which have not been TSR total shareholder return adequately addressed by the chairman or chief executive, 2C best estimate of contingent resources please contact the chairman of the audit committee at: 2P proven plus probable [email protected] $/US$ United States dollar WI working interest Designed and produced by JacksonBone Limited. Printed in England by Synergy Group. Rockhopper Exploration plc Report & Accounts for the year ended 31 December 2015 89 Strategic Report Rockhopper Exploration plc (AIM: RKH) is an oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region. STRATEGIC REPORT GOVERNANCE 2 2015 highlights 26 Chairman’s Governance Report 3 Rockhopper – the story so far 28 Board of Directors 4 Rockhopper at a glance 30 Corporate Governance Statement 6 Objective, strategy and business model 33 Remuneration Report 8 Chairman and Chief Executive Officer’s Review 46 Statutory information 10 Key Performance Indicators (KPIs) 48 Independent auditor’s report to the 11 Market overview members of Rockhopper Exploration plc 12 Chief Operating Officer’s Review 18 Chief Financial Officer’s Review ACCOUNTS 21 Internal controls and risk management Group company financial statements 22 Principal risks and uncertainties 49 Group income statement 24 Health, Safety, Environmental and Social Management 49 Group statement of comprehensive income 50 Group balance sheet 51 Group statement of changes in equity 52 Group cash flow statement 53 Notes to the group financial statements Parent company financial statements 76 Company balance sheet 77 Company statement of changes in equity 78 Company cash flow statement 79 Notes to the company financial statements 88 Key licence interests as at 1 April 2016 89 Shareholder information Rockhopper Exploration plc Report & Accounts for the year ended 31 December 2015 1 Strategic Report 2015 highlights > Significant progress in advancing the Sea Lion development ≥ Pre-FEED work for Phase 1 completed ≥ FEED contracts awarded to a set of world class contractors ≥ Modified project scope and cost improvements have enhanced project economics and lowered break-even oil price ≥ Draft Field Development Plan submitted to the Falkland Islands Government > Material exploration successes at Zebedee and Isobel Deep > All-share merger with Falkland Oil & Gas Limited (completed post the year end) ≥ Consolidates Rockhopper’s leading North Falkland Basin acreage position > Significant production increase achieved in Greater Mediterranean portfolio ≥ Exit 2015 production rate in excess of 700 boepd ≥ Completion of Guendalina side track ≥ First gas achieved at Rockhopper operated Civita field > Confirmation of Falkland Islands tax deferment > Balance sheet strength maintained with cash resources at 31 December 2015 of US$110 million 2 Report & Accounts for the year ended 31 December 2015 Rockhopper Exploration plc Strategic Report Rockhopper – the story so far Q1 2016 2015 Sea Lion enters FEED NFB exploration campaign commences Sea Lion project enters FEED with set of world- In March, the Eirik Raude rig arrives in the class contractors. North Falkland Basin to commence a multi- well drilling campaign. Exploration successes Rockhopper completes merger with Falkland Oil at Zebedee and Isobel Deep with multiple oil & Gas following shareholder approval from both discoveries made. Rockhopper and FOGL shareholders. In November, Rockhopper announced the terms of its all-share merger with Falkland Oil & Gas. Through the merger with FOGL, Rockhopper consolidates its leading acreage and resource position in the North Falkland Basin. 2014 2013 Acquisition of MOG Consolidates interests in NFB acreage In May, Rockhopper announced a recommended Rockhopper consolidates its interests cash and share offer to acquire AIM listed in the Falklands through the farm-in to Mediterranean Oil & Gas plc. The transaction acreage held by Desire Petroleum. As a completed in August. Through the acquisition result, Rockhopper increases its interests in Rockhopper acquired a 2P/2C resource base of licences PL004a, PL004b and PL004c to 24%. 32.5 million barrels of oil equivalent and a portfolio of production, development, appraisal and exploration interests in Italy, Malta and France. In November, and in response to a significant reduction in the global price for oil, Rockhopper and Premier announce a lower cost, phased development concept for Sea Lion. 2012 2011 Farm-Out Sea Lion Appraisal In July, Rockhopper announced it had entered Following the successful flow test in late 2010 into a farm-out agreement with Premier Oil a further eight exploration and appraisal plc (“Premier”), whereby Premier acquired a wells were drilled by Rockhopper across 60% operated interest in Rockhopper’s North the complex, six of those being discoveries. Falkland Basin licences for undiscounted consideration of c.$1bn (comprising cash, In addition, Rockhopper participated development carry and exploration carry). in a further five non-operated wells. In recognition of Rockhopper’s unrivalled understanding of the North Falkland Basin, it was agreed that Rockhopper would retain the sub-surface lead in relation to future exploration activities. 2010 Pre-2010 Sea Lion Discovery Founded in 2004 In February, the Ocean Guardian drilling rig Rockhopper was founded in 2004 to undertake arrived in Falklands waters to carry out a an offshore oil exploration programme in the multi-well programme on behalf of multiple North Falkland Basin. The Company floated on operators. In the spring, Rockhopper (as AIM in August 2005. operator) drilled its first exploration well on the Sea Lion prospect which resulted in an oil A 3D seismic survey was acquired and discovery. The well was successfully flow tested processed during 2007 with interpretation in September. completed in August 2008. Rockhopper Exploration plc Report & Accounts for the year ended 31 December 2015 3 Strategic Report Rockhopper at a glance Falkland Islands NORTH FALKLAND BASIN SEA LION Rockhopper Exploration plc (AIM: RKH) is an oil and gas exploration and production Falkland Islands company with key interests
Load more

Recommended publications
  • Seismic Reflections
    9 December 2011 Seismic reflections Listening out for the Falklands jungle drums Interest in Falklands oil exploration has dwindled during 2011 as investors limit exposure to the frontier region. However, with Rockhopper nearing the end of its extended Sea Lion appraisal campaign, a second discovery having been confirmed in the shape of Casper, and most critically the Leiv Eiriksson drilling rig coming over the horizon to start drilling in the South Falklands Basin, we expect interest to pick up significantly in the new year. Enthusiasm may not reach the peaks of 2010’s hysteria, but the region continues to offer some of the cheapest proven oil in the ground along with Analysts excellent upside for the frontier exploration investor. Ian McLelland +44 (0)20 3077 5756 Colin McEnery +44 (0)20 3077 5731 Press coverage dries up Peter J Dupont +44 (0)20 3077 5741 Elaine Reynolds +44 (0)20 3077 5700 Column inches during 2010 became as inflated as valuations when Rockhopper Krisztina Kovacs +44 (0)20 3077 5700 bagged its maiden discovery at Sea Lion. However, more recently front page [email protected] spreads have been replaced with only the briefest of mentions. Indeed, confirmation 130 last month of a second discovery in the shape of Casper was greeted in one 120 110 leading trade journal with a paltry one inch of text and 36 words. 100 90 Investors take flight 80 Despite the almost heroic efforts of Rockhopper to fully appraise its Sea Lion 70 prospect, with eight appraisal wells almost all on prognosis and two flow tests Jul/11 Apr/11 Oct/11 Jan/11 Jun/11 Feb/11 Mar/11 Aug/11 Nov/11 Dec/10 Sep/11 May/11 Brent WTI driving resource estimates up to 389mmbbls, the interest in the North Falklands Basin has continued to wane.
    [Show full text]
  • Interim Manager's Report for the Period Ended 14 October 2010
    Distribution Number 12 Legal & General UK Active Opportunities Trust Interim Manager’s Report for the period ended 14 October 2 010 (Unaudited) Contents Page Number Manager’s Investment Report 2 Authorised Status 4 Directors’ Statement 4 Portfolio Statement 5 Statement of Total Return 8 Statement of Change in Net Assets attributable to Unitholders 8 Balance Sheet 9 Notes to the Financial Statements 10 Trust Facts 11 Performance Record 12 General Information 14 1 Manager’s Investment Report Investment Objective and Policy The investment objective of this Trust is to secure capital growth from UK securities, which offer recovery prospects and which may be selected from all economic areas. The Manager will select shares whose prices are undervalued and generally do not yet reflect earnings potential. Manager’s Investment Report During the period under review, the bid price of the Trust’s E-Class distribution units fell by 3.96% compared to a fall of 0.48% in the FTSE All-Share Index on a price return basis (Source: Bloomberg) . Past performance is not a guide to future performance. The value of investments and income from them may go down as well as up. Exchange rate changes may cause the value of any overseas investments to rise or fall. Market/Economic Review The UK stockmarket price level was little changed over the period, though individual shares were again volatil e. Markets took a dip on fears regarding some European economies, notably Greece, and the EU had to act to support Greece’s ability to access funding. In the UK , economic conditions remained fragile, with the new government indicating spending cuts which could affect consumer confidence.
    [Show full text]
  • Seismic Reflections | 5 August 2011
    1 | Edison Investment Research | Seismic reflections | 5 August 2011 Seismic reflections Confidence in Kurdistan grows Iraq, including the autonomous Kurdistan region, probably has the world’s largest concentration of untapped, easily recoverable oil reserves. Pioneering moves were made into Kurdistan in the 2000s by the likes of Gulf Keystone and Hunt Oil, with considerable drill-bit success. In late July, two important Kurdistan exploration and development deals were announced. These involve Afren acquiring interests in two PSCs with sizeable contingent reserves and a Hess-Petroceltic partnership signing two PSCs for exploration purposes. With increasing production and Analysts improving relations between the regional and Iraqi federal governments, Ian McLelland +44 (0)20 3077 5756 these deals reflect growing confidence in Kurdistan’s potential as a major Peter J Dupont +44 (0)20 3077 5741 new petroleum province. Elaine Reynolds +44 (0)20 3077 5700 Krisztina Kovacs +44 (0)20 3077 5700 Anatomy of the Kurdistan oil province [email protected] 6,000 Kurdistan is located in the North Arabian basin and is on same fairway as the 5,500 prolific oilfields of Saudi Arabia’s Eastern Province, Kuwait, southern Iraq and Syria. 5,000 4,500 The geological backdrop to Kurdistan tends to be simple and is characterised by 4,000 3,500 large anticlinal structures, deep organic-rich sediments and carbonate reservoirs 3,000 mainly of Jurassic to Cretaceous age. Drilling commenced in the region in 2006. So far, 28 wells have been drilled, of which 20 have been discoveries, resulting in A pr/11 Oct/10 Jun/11 Fe b/11 Aug/10 Dec/10 Aug/11 estimated reserves of over 5.8bn boe.
    [Show full text]
  • Cairn Oil & Gas Investor
    Investor day: CairnCair Oil Oil & & Gas Gas August, 2019 Investor Day Cairn Oil & Gas August, 2019 Cautionary Statement and Disclaimer The views expressed here may contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, reasonableness or reliability of this information. Any forward looking information in this presentation including, without limitation, any tables, charts and/or graphs, has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by Vedanta Ltd. ("Vedanta") and any of its subsidiaries. Past performance of Vedanta cannot be relied upon as a guide to future performance. This presentation contains 'forward-looking statements' – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' or 'will.' Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a environmental, climatic, natural, political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
    [Show full text]
  • Rigamarole-Spring-2011
    SPRING 2011, NO. 30 A PUBLICATION FOR THE PEOPLE, CUSTOMERS, SUPPLIERS AND FRIENDS OF DIAMOnd OFFSHORE DRILLing, INC. THE OCEAN BLACKHAWK AND OCEAN BLACKHORNET DIAMOND OFFSHORE’S NEWEST DRILLSHIPS SPRING 2011, NO. 30 02 A Giant Rising From the Sea 24 Apart from the Herd Before June 2007, OGX didn’t exist. Today Small, agile oil and gas companies always the Rio de Janeiro-based E&P company have some advantages. At Walter Oil & Gas sits on top of at least seven billion barrels Corporation, they begin with an attitude of certified oil and gas deposits, the most that everyone in the company belongs Brazilian reserves controlled by a private- to the family. Jim Looke, Vice President, sector company. Five Diamond Offshore rigs Drilling and Production Operations, said are helping OGX with the drilling activity. as much by introducing Rigamarole to as many of the company’s 50-person staff as he could when we visited last December. 12 Fleet Gets Shipshape Diamond Offshore has ordered two high- specification ultra-deepwater drillships to be 28 Hometowns of Diamond Offshore delivered in 2013. The new drillships, the Ocean The cultural heritage of Diamond Offshore BlackHawk and Ocean BlackHornet, are sched- employees is rich and varied. In many cases, the uled to set sail from Hyundai Heavy Industries’ men and women who crew our rigs come from (HHI) shipyard in South Korea during the the small towns and villages that help make up second half of 2013. Today, these 12,000-foot the heartland of the countries they represent. In water-depth rated drillships exist only on paper this issue, we take a look at Bogalusa, Louisiana.
    [Show full text]
  • Euroil  News Analysis EUROPE OIL & GAS Intelligence MONITOR Published by Newsbase
    23 January 2014 Week 03 EurOil News Analysis EUROPE OIL & GAS Intelligence MONITOR Published by NewsBase After a mixed 2013, there is confidence that merger and acquisition activity in 2014 will maintain the momentum seen in the fourth quarter. Asset divestment by the majors is opening the market to mid-level independents. (Page 2) The valuation of E&P assets is still low, as many companies are cash-constrained. Greater access to capital is necessary for this to change. (Page 2) Shell has said it plans to sell US$15 billion worth of assets over the next two years. (Page 7) The company is to sell off some of its North Sea oilfields as well as parts of its refining portfolio and some early-stage projects. (Page 7) Major gas developments in the East Mediterranean are advancing more slowly than expected as economic and political problems take their toll. US firm Noble does not plan to drill more wells in the East Med until late 2014 at the earliest. (Page 4) Cyprus’ fragile economy makes investment in key energy infrastructure difficult. (Page 4) COMMENTARY After a fluctuating 12 months, there is confidence that deal-making in 2014 will maintain the momentum that began to build in the final quarter of 2013 By Sam Wright M&A activity in Europe in 2013 started slowly but had picked up by the end of the year There is optimism that the uptick in activity will continue into 2014 Divestment by the majors is opening the market to mid-level independents It is fair to say that 2013 was a mixed new fields in 2013, said that it was worth US$300 million, involved the bag for Europe’s oil and gas sector.
    [Show full text]
  • RKH Capmark Section 01Introduction
    ROCKHOPPER EXPLORATION PLC CAPITAL MARKETS PRESENTATION 13 SEPTEMBER 2011 4 CHISWELL STREET LONDON SEPTEMBER 2011 1 ROCKHOPPER EXPLORATION PLC CAPITAL MARKETS PRESENTATION SEPTEMBER 2011 2 ROCKHOPPER EXPLORATION PLC CAPITAL MARKETS PRESENTATION SESSION 1 INTRODUCTION SAM MOODY CHIEF EXECUTIVE OFFICER SEPTEMBER 2011 3 ROCKHOPPER EXPLORATION PLC CAPITAL MARKETS PRESENTATION SAM MOODY – CHIEF EXECUTIVE OFFICER DAVE BODECOTT – EXPLORATION DIRECTOR PETER DIXON‐CLARKE – FINANCE DIRECTOR FIONA MACAULAY – GEOLOGY & GEOPHYSICS MANAGER ANDY MORRISON – OPERATIONS MANAGER PAUL CULPIN – DEVELOPMENT MANAGER SEPTEMBER 2011 4 INTRODUCTION BOARD OF DIRECTORS DR PIERRE JUNGELS CBE Chairman JOHN CROWLE Non‐Executive Director PhD Geophysics & Hydraulics, California Institute of Trained geologist Technology E&P experience from BP, LASMO, Enterprise Oil and Previously at Shell, PetroFina SA, Enterprise Oil Shell, Director at Salamander Energy SAM MOODY CEO CHRIS WALTON Non‐Executive Director Co‐founder of Rockhopper Finance Director at Easyjet from 1999 to 2005 where Previously at AXA Equity & Law Investment he successfully directed its IPO in 2000 Management, St Paul’s Investment Management Previously at BP Australia, RTZ Hamersley Iron PETER DIXON‐CLARKE Finance Director DAVID McMANUS Non‐Executive Director Qualified as a chartered accountant with Deloitte & Touche Petroleum Engineer with 35 years experience in the Oil and Finance Director at Goshawk plc for its refinancing and sale Gas industry. Previously with Shell, Ultramar, ARCO and BG Group DAVE BODECOTT
    [Show full text]
  • Creating Value Through Building a Well-Funded
    REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2019 ROCKHOPPER EXPLORATION ROCKHOPPER ROCKHOPPER EXPLORATION PLC 4th Floor Telephone +44 (0)207 486 1677 5 Welbeck Street [email protected] London www.rockhopperexploration.co.uk W1G 9YQ Twitter @RockhopperExplo PLC Company Reg. No. 05250250 Creating value through building a well-funded, full-cycle, exploration-led E&P company Report and Accounts for the year ended 31 December 2019 STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION CONTENTS SHAREHOLDER INFORMATION STRATEGIC REPORT FINANCIAL STATEMENTS KEY CONTACTS CONCERNS AND PROCEDURES 1 Rockhopper – Who we are Group financial statements 2 2019 highlights 55 Consolidated income statement Registered address and head office: General emails 4 Rockhopper – timeline 55 Consolidated statement of comprehensive income 4th Floor [email protected] 6 Rockhopper at a glance 56 Consolidated balance sheet 5 Welbeck Street 7 Vision, strategy and business model 57 Consolidated statement of changes in equity London Audit committee emails 8 Chairman and Chief Executive Officer’s review 58 Consolidated statement of cash flows W1G 9YQ [email protected] 11 Key Performance Indicators (KPIs) 59 Notes to the consolidated financial statements 12 Industry overview NOMAD and joint broker Website 14 Sea Lion Phase 1 development overview Parent company financial statements Canaccord Genuity Limited www.rockhopperexploration.co.uk 16 Financial
    [Show full text]
  • Rockhopper Exploration Plc Title Date
    ROCKHOPPER EXPLORATION PLC CANACCORD GENUITY GLOBAL RESOURCES CONFERENCE OCTOBER 2012 IMPORTANT NOTICE This Presentation does not constitute an offer or invitation or a solicitation of any offer or invitation for the sale or purchase of any securities in the Company. In addition, it is not intended to form the basis of or act as an inducement to enter into any contract or investment activity, and should not be considered as a recommendation by the Company to do so. Certain statements in this document are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that would cause actual results or events to differ from current expectations, intentions or projections might include, amongst other things, changes in oil prices, changes in equity markets, failure to establish estimated petroleum reserves, political risks, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain any required regulatory approval, failure of equipment, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other geological, geophysical and engineering data, delays in obtaining geological results and other risks associated with offshore exploration, development and production. Given these risks and uncertainties, readers should not place undue reliance on forward-looking statements.
    [Show full text]
  • Foraging and Diet of Southern Rockhopper Penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a Summary Report
    Foraging and diet of Southern Rockhopper penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a summary report Falklands Conservation September 2012 FALKLAND ISLANDS OFFICE. PO Box 26, Stanley. Falkland Islands Tel: +500 22247. Fax: +500 22288 Patron: HRH The Duke of York KG KCVO ADC. Falklands Conservation is a company limited by guarantee in England and Wales No. 3661322 and Registered Charity No. 1073859. Registered Office:14 East Hatley, Sandy, Bedfordshire SG19 3JA. Registered as an Overseas Company in the Falkland Islands. Foraging and diet of Southern Rockhopper penguins at Steeple Jason and Beauchêne Island, Falkland Islands – a summary report September 2012 Sarah Crofts Falklands Conservation Acknowledgements UK Overseas Territories Environmental Programme People’s Trust for Endangered Species Falkland Islands Government John Cheek Trust Rockhopper Exploration PLC Desire Petroleum PLC BHP Billiton Wildlife Conservation Society Note: The aim of this document is to report on the progress of the project since the completion of the two year field work to the funding bodies of the project. The data has not completely and comprehensively been analysed and therefore this report does not necessarily reflect the final information that will be published as a result of the project. Please do not cite without the permission of the author. Falkland Islands Note: The maps in this report are projected with the co-ordinate grid system shown above. To avoid clutter- ing the maps the graticule has been removed so tracking data is more clearly displayed. Please bear in mind when interpreting the maps to avoid misreading the latitudes in particular, as they do not run in perpendicu- lar grids and therefore co-ordinates on the map do not align in a straight line with the axes.
    [Show full text]
  • 2010 Discoveries
    2010 DISCOVERIES AUSTRALASIA Country Operator Well Name Basin Off/Onshore Type Disc date Australia Chevron Acme 1 North Carnarvon Basin Offshore Gas Jul-10 Australia Bow Energy Vermont 1 Bowen - Surat Basins Onshore CBM Apr-10 Australia Chevron Sappho 1 North Carnarvon Basin Offshore Gas May-10 Australia Woodside Alaric 1 North Carnarvon Basin Offshore Gas,cond Sep-10 Australia Hess Glenloth (Hess) 1 North Carnarvon Basin Offshore Gas May-10 Australia Woodside Noblige 1 North Carnarvon Basin Offshore Gas Feb-10 Australia Woodside Larsen 1 North Carnarvon Basin Offshore Gas Mar-10 Australia Chevron Brederode 1 North Carnarvon Basin Offshore Gas Jun-10 Australia Woodside Larsen Deep 1 North Carnarvon Basin Offshore Gas Sep-10 Australia Origin Energy Rockhopper 1 Bass Basin Offshore Oil,gas,cond Jan-10 CIS Country Operator Well Name Basin Off/Onshore Type Disc date Turkmenistan CNPC Agayry Afghan-Tajik Basin Onshore Gas Jun-10 Russia Rosneft Savostyanovo Nepa-Botuoba Basin Onshore Oil,gas Jan-10 Russia Oiltechprodukt-Invest Limbayakhinskoye West Siberian Basin Onshore Gas,cond Mar-10 Russia INK-Sever Boris Sinyavskiy Nepa-Botuoba Basin Onshore Oil Oct-10 Uzbekistan Uzbekneftegaz Aral Garbiy North Ustyurt Basin Onshore Gas Apr-10 Russia Gazprom Abakanskoye Baykit Basin Onshore Gas Feb-10 Russia Gazprom Kirinskoye Yuzhnoye North Sakhalin Basin Offshore Gas Sep-10 Russia Krasnoyarskgazdobycha Salairskoye Baykit Basin Onshore Gas Oct-10 Kazakhstan Samek International LLP Borkyldakty Precaspian Basin Onshore Oil Mar-10 EUROPE Country Operator
    [Show full text]
  • Annual Report 2015
    BUILDING ON SUCCESS CAIRN ENERGY PLC Annual Report and Accounts 2015 CAIRN ENERGY PLC Annual Report and Accounts 2015 DELIVERING VALUE FROM DISCOVERY AND DEVELOPMENT About Cairn Energy PLC Cairn Energy PLC is an independent oil and gas exploration and development company listed on the London Stock Exchange. Cairn has its headquarters in Edinburgh, Scotland, with additional offices in London, Norway and Senegal. Cairn has discovered oil and gas in a variety of locations throughout the world. Today the business holds a balanced portfolio of exploration, appraisal and development assets and is organised in three core groups: Senegal, UK and Norway and International. STRATEGIC REPORT 01 LEADERSHIP AND GOVERNANCE 62 Overview of 2015 02 Board of Directors 62 Company Balance Sheet 147 Chairman’s statement 04 Directors’ report 64 Company Statement of Cash Flows 148 Highlights 05 Corporate Governance statement 67 Company Statement of Changes in Equity 149 Industry overview 06 Audit Committee report 76 Section 7 – Notes to the Company Financial Statements 150 CEO’s review 08 Directors’ Remuneration report 81 Strategy and business model 10 ADDITIONAL INFORMATION 155 Senegal – Building on success 12 F INANCIAL statements 105 Group booked reserves and resources 155 Focus on North Sea 18 Independent Auditors’ Report 105 Licence list 156 2015 Key Performance Indicators (KPIs) 20 Group Income Statement 112 Glossary 158 2016 Key Performance Indicators 24 Group Statement of Comprehensive Income 112 Company information Inside back cover Operational review
    [Show full text]