Our Strategy

Our strategy is to explore and develop high-potential exploration and production assets in Africa, and form strategic partnerships with national oil companies, indigenous local partners and other independent oil companies. We look to build and operate a balanced portfolio of assets with manageable risks, early cash flow and bookable reserves and resources.

We actively manage our investments and on-going operations by limiting capital exposure and forming strategic partnerships and alliances where we operate. We believe that a strong technical and operational team with local knowledge is key to our success. We actively manage and prioritize assets in our portfolio, seek economic efficiency in our operations and farm-down assets when appropriate to maximize investment value.

Prospective and Contingent Resource Disclaimer

This Competent Person’s Report contains estimates of "prospective resources" and "contingent resources." The Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only “reserves,” as that term is defined under SEC rules.

Prospective resources are those quantities of petroleum estimated, as at a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Contingent resources are those quantities of petroleum estimated, at a given date, to be potentially recoverable from known accumulations, but the applied projects are not yet considered mature enough for commercial development due to one or more contingencies.

Prospective resources have both an associated chance of discovery and a chance of development, while contingent resources have an associated chance of development. Investors should not assume there will be any discovery associated with prospective resources, or that any discovery or any contingent resources will be economically drillable or ever be upgraded into reserves.

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