Our strategy has been to secure high potential ground/projects in new and existing oil and gas provinces. Our belief is that ‘politics changes, geology doesn’t’. As a result we use our expertise and knowhow to be an early stage mover in new opportunities. This is how we entered Iraq and subsequently Ghana. The geological argument has even strengthened since we entered and more discoveries.
Our geological knowledge and data of Ireland has always told us that offshore Ireland was highly prospective; the question was risk versus reward. Changes to fiscal terms, higher oil prices and new technology has improved opportunities offshore Ireland, making it the right time to re-enter the arena. Going forward we will look to joint venture to maximise project potential in our locations and increase value to shareholders.
THIS PAGE WAS LAST UPDATED ON 21 NOVEMBER 2012