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Activity for the first nine months of 2020

Oct 22, 2020

 

  • Group working interest production for the first nine months of 2020: 26,458 boepd
    • M&P working interest production on the Ezanga permit of 17,500 bopd, down 14% from the same period in 2019, due to production cuts related to OPEC quotas
    • M&P working interest production of 4,002 bopd in Angola and 29.7 mmcfd in Tanzania

 

  • Valued production (revenue from production activities, excluding lifting imbalances) for the first nine months of 2020: $241 million
    • Down 37% compared to the same period in 2019, with the average sale price of oil down 44% to $37.8/bbl
    • Consolidated sales of $212 million for the first nine months of 2020

 

  • Solid financial position and ongoing paydown of debt
    • Cash position of $160 million at 30 September 2020
    • Debt repayments of $56 million since the start of the year
    • Cash breakeven before debt servicing reduced down to $30/bbl thanks to cost reduction initiatives


Activity for the first nine months of 2020