Implementation Plan

 
Due diligence will be carried out by the Directors and such other professional advisers as are deemed necessary by the Directors at the relevant time in respect of, for example, financial and legal due diligence. When identifying potential Acquisitions, the Company will consider among other things:
Deal flow – although the Board believes that several attractive potential opportunities exist, no commitments have been made on behalf of the Company. All potential opportunities will be thoroughly researched and sourced through the Directors’ contacts in the industry;
Region/location analysis – research will be conducted to fully understand the fundamentals of each investment opportunity;
Financial analysis – a thorough financial analysis will take place prior to making any investment, where assumptions are identified and economics scoped;
Reserves analysis – investment opportunities will be carefully reviewed ahead of independent due diligence;
Project inspection – investment opportunities will be visited (as necessary) so that any additional issues and expenditures can be identified;
Capital markets view – consideration will be given to ensure the investment opportunity is in line with investors’ expectations;
Independent due diligence – where considered necessary by the Directors, the Directors will instruct such other professional advisers to conduct further due diligence on a potential Acquisition opportunity; and
Board approval – the Company will not have a separate investment committee, all investments will be required to be approved by the Board.