Financial highlights

For the year ended 31 December 2021

2021 Financial Highlights
  • Year-end Group cash of US$314m; net cash of US$133m after debt drawn to fund the Egypt acquisition of US$181m
  • Working interest Egypt oil and gas production of ~36,500 boepd, within guidance of 33,000-38,000 boepd; net entitlement production of 1.5mmboe
  • Revenues from Egypt production of US$56m: average realised oil price of US$77.8/bbl and gas price of US$2.9/mcf (average production cost US$6.0/boe)
  • Net cash generated from oil and gas production of US$185m
  • Net Group capital expenditure of US$66m
  • Operating loss of US$131m (2020 Restated: US$130m operating loss) from continuing operations
  • Profit after tax of US$895m (2020: Loss of US$394m), including India tax refund
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