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The numbers below are preliminary and unaudited (so are subject to material change upon further review) and

correspond to the year ending 31 December 2017.

2017 Financial Highlights

The Company closed the year with a

cash balance of US$64 million.

Net debt

for the Company at the end of 2017 was

US$344 million



from business operations for the year was

US$200 million.

Trade receivables balance

as of year-end was

US$126 million

. The next Iraqi crude payment shipment due in

Q1 2018 of approximately 0.8 mmbbls will reduce this balance by an estimated US$50 million.

Operating costs

for 2017 are expected to be around


Cash capital expenditure

for the year was

US$82 million

– the majority of which related to the construction of

the Siba gas plant and Block 9 concession (both in Iraq).

Next Financial Update

The most recent financial report was issued at the end of December for the unaudited 9-month 2017 financials and


next financial report will be the audited Year-End 2017 accounts which are expected to be issued before the

end of April 2018.

The Company intends to have a

market call and webinar

to accompany the year-end results and

will be in contact with its various stakeholder groups with further details and information in the weeks prior to the

release of the year-end audited accounts.