Annual Report 2010 - Ophir Energy

Contents
Overview
Highlights of the Year 2
About Us 3
2010 ANNUAL REPORT
1
Contents
Business Review
Chairman’s and Managing Director’s Review 4
Board of Directors and Senior Management 8
Operations’ Review 12
Financial Review 20
Principal Risks and Uncertainties 22
Directors’ Report 24
Ophir energy plc |
Governance
Corporate Governance Statement 30
Directors’ Remuneration Report 34
Statement of Directors’ Responsibilities 36
Independent Auditor’s Report 37
Group Accounts
Group Income Statement and Statement of Comprehensive Income 38
Group Statement of Changes in Equity 39
Company Statement of Changes in Equity 40
Group Statement of Financial Position 41
Company Statement of Financial Position 42
Group Statement of Cash Flows 43
Company Statement of Cash Flows 44
Notes to the Financial Statements 45
Corporate Directory 73
List of Figures
Figure 1 - Operations 3
Figure 2 - African Net Deepwater Acreage Position (km 2 ) 3
Figure 3 - Operational Highlights over the reporting period to date 13
Figure 4 - Blocks 1, 3 and 4 - Tanzania 13
Figure 5 - Block R, Equatorial Guinea 15
Figure 6 - Mbeli, Ntsina, Manga, Gnondo Blocks - Gabon 16
Figure 7 - AGC Profond, AGC 17
Figure 8 - Marovoay Block 2102 - Madagascar 17
Figure 9 - Berbera PSA - Somaliland 18
Figure 10 - Block Marine IX - Congo (Brazzaville) 19
Figure 11 - Daora, Haouza, Mahbes & Mijek Blocks - SADR 19