Company Strengths

The Directors believe that the Company has the following key strengths: 

• Portfolio of high impact exploration assets;
• Experienced management team focused on achieving exploration success; and
• Is fully funded and debt free.

Strategy

The Company's business strategy is to be an integrated exploration, development and production company; creating sufficient cash flow to both reinvest for further growth and, when appropriate, to provide returns to Shareholders.

To deliver on this strategy the Company requires several key ingredients:

• a team of talented and experienced technical, commercial, and financial specialists;
• access to highly prospective exploration projects in investor friendly fiscal regimes;
• expertise to promptly develop discoveries into cash flow generative and profitable assets; and 
• to operate safely and responsibly so that all stakeholders are proud to be involved in the Company's activities.

In the near term the Board:  

• is planning to commence drilling at the Sangaw North prospect in Kurdistan;
• is seeking farm-in partners for some of its offshore blocks; and
• will conduct a full review of the Group's exploration and production assets and seek to add new projects.