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.
for the Company at the end of 2017 was
from business operations for the year was
Trade receivables balance
as of year-end was
. 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.
for 2017 are expected to be around
Cash capital expenditure
for the year was
– 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.