The Company was incorporated earlier this year to bring together a team of individuals who have wide-ranging skills in the evaluation and exploitation of exploration and production oil and gas assets, asset acquisitions and corporate and financial management.

The Directors believe that their broad collective experience, in the areas of acquisitions, accounting, corporate and financial management together with the opinion of consultant experts in the evaluation and exploitation of oil and gas projects, who will assist them in the identification and evaluation of suitable opportunities, will enable the Company to achieve its objectives.

The Company intends being in a position to commence evaluating acquisition and investment opportunities immediately following Admission.

The Company’s primary strategic approach will be to identify projects and businesses which may contain a development premium that the Directors hope to unlock through the provision of a combination of financial, commercial and technical support. The Company intends to draw on a network of independent experts to assist in evaluating investments, including the commissioning of an internationally recognized competent person to prepare a report where appropriate

It is likely that the Company’s funds will primarily be invested in a relatively small number of investments. The Company intends to be an actively involved investor, and accordingly, may seek participation in the management or board of directors of a company in which it invests. There is no limit on the number of projects into which the Company may invest.

The Company may make investments by way of loan arrangements including, by way of example only and without limit: bonds, loan stock, debentures, the funding of working capital requirements and convertible loan notes. Where the Company makes an investment by way of a loan it may be incorporated into the terms of any joint venture or other arrangements which may be entered into by the Company.