Our business strategy is focussed on responsible investment in the development of fossil fuel resources where it can be shown that such investment is potentially beneficial to the environment by reducing greenhouse gas emissions. Enhanced Oil Recovery using carbon dioxide injection to bring mature oil fields back to life onshore Trinidad and exploring for and appraising gas discoveries around existing infrastructure offshore Ireland for maximum economic benefit with reduced environmental footprint is our preferred operational plan to meet our business strategy ethos.
Our business development model is anchored from top down by the Board's intensive knowledge generated by a highly experienced group of oil and gas industry professionals coupled with a thorough understanding of technical, commercial and political risk based on a diverse set of skills. The Board's track record shows a determination to seek to create value for shareholders through the incisive application of its collective business vision to create and develop projects capable of early stage business growth and ultimate monetisation.
The Board is aligned with shareholders through their highly significant shareholding and incentivised share option scheme based on achieving production targets that lead to the generation of revenues and the ability to pay dividends from free cash whenever financial prudence allows.
The core funding strategy is based on generating near-term oil production and cash flow from drilling infill production wells which can subsequently be used for C02 Enhanced Oil Recovery with a significant uplift in production rates and cash flow for a much reduced capital outlay compared to drilling new development wells.
For the higher risk parts of the portfolio the strategy is to add value through desk top studies and management vision to incubate and then potentially hatch and monetise through a farmout. Whilst a successful farmout may be potentially transformational, our Company's well-being will not be held hostage by the success or otherwise of a farmout process as the business is underpinned by the focus on generating cash flow from mature oil fields.