Awarded Best AIM Company 2016

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Our Journey

2017

January – Tendrara (TE-7) – Extended well test results

February – Tendrara (TE-8) – Prove extension of TAGI discovery  and explore the Paleozoic

March – Badile Moirago-1 well spud (Italy)

April – Schlumberger investment into Meridja (Geophysical Survey (including seismic)with gross cost fully carried)

May –  Final TE-8 results and revised estimates

June – Start of Sidi Moktar Work Programme

June - Badile - Moirago -1, Exploration well in Italy
Sidi Moktar - Koba-1 & Kamar-1, Workover and test of Koba-1 and Kamar-1(Sidi Moktar wells)
CFO Appointment - to be announced

August - Tendrara - Next operation, Three alternatives under consideration.

2016

January – Further Sidi Moktar acquisition

February – Secured option to acquire Meridja reconnaissance area

March – Introduction of partner to Sidi Moktar

April – Receipt of $1 million Indonesian Contingent Consideration

April – Spud of TE-6 (first well at Tendrara, Morocco)

May – Receipt of final Badile drilling approval

July – Farm out of Badile to Schlumberger

August – Results of TE-6 at Tendrara (28m net pay, 17mmscf/d on test)

September – Inclusion on FTSE AIM UK 50 Index

November – Results of TE-7 at Tendrara (32mmscf/d after clean up)

November – Successful £26.9 million capital raise

December – Inclusion in MSCI Global Small Cap Index

2015

April – Secured further funding from the institutional cornerstone investor

May – Morocco country entry through the onshore gas licences at Tendrara

June – Memorandum of Understanding (“MOU”) with Schlumberger as strategic partner

October – Acquisition of Sidi Moktar licences, consolidating our position in Morocco

December – Introduction of Schlumberger to Tendrara

2014

April – Introduction of a new Institutional Cornerstone Investor, Continental Investment Partners

July – First gas on the Casa Tiberi field (Marche Region of Italy)

September – Purchase of the land required for the Badile prospect

2013

Achieved first gas from the onshore Rapagnano field in central Italy; maturation of Italian portfolio.

2012 / 2011

Strategic decision to focus on Mediterranean onshore gas; acquisition of onshore gas portfolio; disposal of Indonesian assets.