Focus on relatively low-risk development and/or production assets with a primary objective to produce oil and gas and generate early revenue after completion of the Qualifying Acquisition.
We will not enter into exploration activities for the Qualifying Acquisition due to the inherent uncertainties and longer gestation period from acquisition to generating revenue. Our focus on development and/or production assets is aligned with our main aim of early revenue. Post Qualifying Acquisition, we intend to eventually own a balanced portfolio of exploration and production assets with the objective of growing our reserves.
Strength of our Management Team
A balanced Management Team comprising E&P veterans with practical and technical field experiences and track record encompassing the entire value chain of the E&P sector from identification of assets to operations to decommissioning/abandonment of fields.
Familiarity with the Asia Pacific region that we intend to focus which covers specifically countries such as Malaysia, Indonesia, Australia, Myanmar, Thailand, the Philippines and Vietnam.
Wide networks and contacts within the oil and gas sector which will facilitate the sourcing and early identification of potential target assets.
More competitive financial position to acquire target company or assets for the purpose of the Qualifying Acquisition.
Given the quantum of proceeds we intend to raise, i.e. RM750 million, we are well-positioned and have a more competitive financial position to acquire target assets for our Qualifying Acquisition.
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