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FORWARD-LOOKING STATEMENTS
This Offering Memorandum contains forward-looking statements which reflect the Group's current views with respect to
financial performance, business strategy, plans and objectives of management for future operations (including
development plans relating to the Group's business). These forward-looking statements relate to the Group and the
jurisdictions in which it operates. Statements that include the words “estimates”, “anticipates”, “expects”, “intends”,
“believes”, “projects”, “plans”, “targets”, “aims”, “may”, “should”, “would”, “could”, “continue”, “budget” and similar
statements of a future or forward-looking nature identify forward-looking statements for purposes of the United States
Private Securities Litigation Reform Act of 1995 or otherwise. Statements relating to “reserves” or “resources” are
forward-looking in that they rely on implied assessments, which are based on estimates and assumptions about the
commercially achievable production of the resources and reserves so described.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by the Group, are inherently subject to significant business, economic and market risks and uncertainties.
Accordingly, there are or will be important factors that could cause the Group’s actual results to differ materially from
those indicated in these forward-looking statements. These factors include, but are not limited to, those described in
“
Risk factors
”, which should be read in conjunction with the other cautionary statements that are included in this
Offering Memorandum. Other important factors that could cause actual results to differ materially from the Group’s
current expectations include, among others, the following:
reservoir performance, drilling results and implementation of the Group’s exploration, appraisal and
development programmes;
the ability of the Group to comply with its obligations under and, in certain cases, to extend the terms of its
licences;
unfavourable changes in economic, political, security and social conditions in the jurisdictions in which the
Group operates, particularly in Egypt, Iraq and Yemen;
accuracy of the estimates of the Group’s reserves and resources;
the Issuer’s ability to successfully agree farm out or similar financings, or obtain funding to execute the Group’s
exploration, appraisal and development programmes or complete disposals of certain assets;
volatility in the market price of oil and gas and fluctuations in global supply of and demand for hydrocarbons;
operational problems, including the unavailability or failure of equipment and the shortage of skilled technical
or management personnel;
competition in the jurisdictions where the Group operates;
availability and extent of necessary infrastructure including transportation for oil and gas produced to reach
markets;
unplanned events, including strikes or natural disasters affecting the Group’s assets; and
changes in legal and regulatory regimes, tariffs and taxes, including with regard to the enforcement and the
availability of licences for oil and gas exploration and production in various jurisdictions.
Any forward-looking statements in this Offering Memorandum reflect the Group’s current views with respect to future
events and are subject to these and other risks, uncertainties and assumptions relating to the Group’s operations, financial
condition, results of operations and strategy.
Investors are cautioned that forward-looking statements are not guarantees of future performance. Forward-looking
statements may, and often do, differ materially from actual results. Any forward-looking statements in this Offering
Memorandum speak only as at the date of this Offering Memorandum, reflect the Group’s current view with respect to
future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to
the Group’s operations, results of operations, strategy and liquidity. Investors should specifically consider the factors
identified in this Offering Memorandum which could cause actual results to differ before making an investment decision.
All of the forward-looking statements made in this Offering Memorandum are qualified by these cautionary statements.
Specific reference is made to “
Summary
”, “
Risk factors
”, “
The Group’s business
”, “
Management’s discussion and
analysis of financial condition and results of operations
” and “
Competent Person’s Report.
” None of the Issuer, the
