Saturday, December 10, 2016

Oil & Gas Egypt : general meeting statement

It is funded our share of the prices related to that discovery into production in 2017 fully, and we, therefore, won't get external finance to fund our share. Once we have a tendency to expect our output current the United Kingdom by one hundred to 220 Council Council. At this level, we have a tendency to expect that Europe contains a positive income from operational activities in oil costs on top of $ thirty a barrel. except for generating funds for reinvestment, 2 farm-outs highlight the worth non-public sector places a wild production within the UK or close to production assets compared to the worth Musnad by the market. once the deal. we have a tendency to appreciate our remaining two-hundredth interest in 2 licenses to £ three.7 million. in conjunction with the thought of the sale of a stake of thirteen.3% in every of the licenses, and that we believe is quite 1/2 the present capitalization calculated by PEDLs one hundred eighty and 182 alone.

In the wake of better licensing spherical ever overseas here, earlier this year, the land government has granted twenty-eight licenses for fourteen teams / firms, 5 of that visited Europe. Today, we have a portfolio of Irish seven operational licenses covering a section of 5818 metric linear unit meters box, and 6 sorts of toys, and 3 basins twenty prospects and leads. the portfolio is probably going to hold the resources unrisked total average four billion barrels of oil equivalent (Europe estimates) and one.5 trillion blockish feet of gas (Europe) estimates. we have a tendency to have already got 2 expectations area unit excavation prepared and our goal is to get prepared opportunities six drilling, anybody of which might be created for Europe company-maker. company's value twelve £ million, Europe, in our opinion, punches so much on top of its weight in terms of our possibilities of exposure to exploration success of high-impact, an interesting action considering the wonderful names that have recently entered the region.

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