OPERATIONAL
Completed Salamander Energy acquisition and successfully integrated Asian assets, operations and team
Average daily production 14,600 boepd (pro forma); full year guidance increased to 11,000-12,500 boepd
Significant progress on Fortuna FLNG with Golar LNG signed on as Midstream partner to provide a 2.2 MTPA vessel and Upstream FEED phase underway. FID expected mid-2016
Increased exploration portfolio with low commitments: completed acquisition of four deepwater PSCs in Indonesia
Completed four seismic acquisition programmes: Bualuang oil field, Myanmar Block AD-03, Gabon and Seychelles
Preparations finalised for two exploration wells in 2H 2015: Soy Siam and Parichat in G4/50, Thailand
FINANCIAL (reflects acquisition of Salamander Energy, completed 3rd March 2015)
Revenue of $86.5 million (1H 2014: nil)
Pre-tax loss of $123.3 million (1H 2014: profit of $589.4 million) before extraordinary items
Cash generated from Operations of $69.4 million (1H 2014: utilised $12.7 million)
Total cash available as at 30 June of $708.2 million (FY 2014: $1,172.8 million); gross debt of $316.2 million resulting in a net cash position of $392.0 million (FY 2014: $1,172.8 million) Cost rationalisation programme delivering $60 million per annum of pre-tax G&A savings
Completed $100 million share buyback programme
