ENP Newswire -
Release date- 24042014 -
For more detailed information relating to the Company's yearend results, please refer to the financial statements along with the related Management Discussion and Analysis ('MD&A') in NSE's SEDAR filing.
Highlights and recent events for the year ended
Cash on hand of
Liabilities for the Company decreased in the amount of
In August, 2013, the Company secured a farm-in agreement with Maersk Oil North Sea
In June, 2013, the Company received an independent Prospective Resource Assessment of its Bagpuss and Blofeld Prospects (Blocks 13/24c and 13/25) (Total gross low, best and high estimate of prospective resources respectively 31MMbo, 138MMbo and 594 MMbo).
Awarded three new blocks in the 2nd tranche of 27th
Subsequent to the year end, the Company signed a Joint Bidding Agreement for the 28th UKCS Licensing Round.
Subsequent to the year end, the Company withdrew from the Jacky field with an effective date of
Except for statements of historical fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to oil reserves and future revenues.
Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements.
Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in
Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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