Joyous June12 Jun 2018 09:12
Fully funded 2018 work programme
At the end of 2017 I outlined the good, the bad and the ugly and while the Company has faced challenges, none of these have been insurmountable and I am confident that 2018 will be a year of the good and the great. Our 2018 work programme, fully funded from cashflow, includes: the continued ramp-up of production at Goudron; the reactivation of the Bonasse oilfield; the optimisation of the Icacos oilfield; and the working up of our exploration programme at SWP, as we prepare to drill in 2019. Capex for the year is expected to be c. US$2.6 million with an additional US$1.2 million being spent on well optimisation activities.
We have the underlying assets with transformational growth potential, a team with the passion and capability to deliver this and the means by which to do this from our own cash. We have the ideal platform from which to grow.
Leo Koot, Executive Chairman, 11 June 2018