Strong production of 47,112 boepd drives record revenue (US$1.6 billion) and cash flow (US$1.2 billion); 2014E gross production expected to average 62,000 bopd (approximately 40,000 bopd net)
Targeting double digit growth in net production over the next five years
201% 2P reserves replacement ratio in 2013; including Okwok 2P reserves addition of 46.6 mmbbls (26.4 mmbbls net)
Ogo - the third largest global discovery in 2013; P50 resources estimated at 774 mmboe; moving forward with appraisal programme
Large existing opportunity set; allocating 2014 capex (estimated US$845m) to highest cash return projects and further exploration drilling
12 month E&A campaign targeting over 1,200 mmboe in net prospective resources
Net debt of US$739 million; balance sheet strengthened with extended debt maturity, lower cost of debt and improved deferred tax position
Award of five-year tax exemption in relation to Ebok
