Adl25 Jul 2018 00:00
This investment is the first step in delivering my broader strategy to combine nearer term catalysts for shareholders, with our existing Indonesian projects.  Indonesia offers significant potential and we remain committed to our existing projects and strategy there. However to generate sustained value for shareholders we believe we must diversify into other projects or jurisdictions where suitable opportunities arise. Our team has over 25 years’ experience in the UK North Sea, working across 15 fields encompassing every stage of the development cycle, which makes the Eagle opportunity particularly complementary to the teams skill set.
The investment gives us a material stake in an asset at an attractive entry point, with an existing work programme underway, providing significant upside potential. It also gives us access to other possible UK oil and gas projects that are being worked on by the team at Eagle. We believe our expertise will help Eagle progress Badger and assist in negotiations on other business development opportunities.