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