1996 Annual report PDF 36.77MB - Cairn Energy PLC

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Glossary of termsContents1 Highlights2 Chairman's Statement4 Chlef Executive's Report9 Operational Review7 Environmental Statem8 Financial Rev~ew21 Report of the Audltor22 Board of Direct26 Report of the29 Reserves30 Financial Sta32 Notes to the Ac46 Fwe Year Summa7 List of Licenc8 Notice of AGMinside back cover
January 1997Sgnahlm of Sangugas sales agreement...................................HighlightsDecember 1996Rawa field at 35,000 bopd (gross).............Signature of China PC3 for Blocks15/35 8 15/26.0 Sangu on track for April 1998 production.0 Leading strategic position in South Asia established.Exploration and acquisition successes increase reservesto 189 MMboe.0 25 well development and exploration programme.0 Operating profits up sevenfold to f7.3m and net assets upover fourfold to £31 8m.0 Discussions underway with Shell on Bangladesh joint venture.November 1696Command offer declared uncondiiional.October l9S3Public offer for Command...........July 1996Farmout of 25% of Sangu ......to HBR Energy Inc.1 for 5 rights issue...............February 1996Sangu gas discweiy ........£6 million market capitalisation £950 miReport 1
Page 4 and 5: Chairman 's Statement"During 1996,C
Page 6: Chief Executive's Report"Today, Cai
Page 11: Operational ReviewSummaryGroup prod
Page 15 and 16: Operational Review (continued)"Cair
Page 17: North AfricatMiddle EastTunisiaComm
Page 20 and 21: Financial ReviewNet Asset Gmwth 199
Page 22 and 23: Financial Review (continued)Balance
Page 24 and 25: Norman Lessels CBE'ChairmanBill Gam
Page 26 and 27: Report of the Directors (continued)
Page 28 and 29: Report of the Remuneration Committe
Page 30 and 31: Report of the Remuneration Committe
Page 32 and 33: Consolidated Profit and Loss Accoun
Page 34 and 35: w zw1.mzLLL'L
Page 36 and 37: Notes to the Accounts (continued)Fo
Page 42 and 43: ~ --Notes to the Accounts (continue
Page 44 and 45: Notes to the Accounts (continuedFor
Page 46 and 47: Notes to the Accounts (continuedlFo
Page 48 and 49: Five Year SummarvConsolidated pmm a
Page 50: Notice of Annual General Meeting!No

1996 Annual report PDF 36.77MB - Cairn Energy PLC

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