producing assets as well as to explore and develop new reserves.

The Company has proved the success of this model through our producing asset, Erskine, in which we are a partner with Chevron and Chrysaor. We have recently announced the purchase of interests in the Bruce, Keith and Rhum fields where we are also taking over as field operator. These fields are a mixture of late-life and mid-life, largely gas producing assets where further investment can enhance recovery and extend field life.

The Company has the finance, scale, range of operations and technical expertise to both operate and to partner other companies. We seek to expand the value of our business whilst spreading risk and limiting downside exposure and do so both through partnerships and through asset transactions.