March 05, 2015 7:01 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Valiant Petroleum plc

Company Overview

Valiant Petroleum plc, an independent oil and gas company, engages in the development and exploration of oil and gas reserves primarily in the United Kingdom North Sea, Norway, and the Faroe Islands. The company holds interests in various properties that include Don Southwest, West Don, Causeway, Fionn, and Crawford and Porter. As of December 31, 2012, it had proved plus probable reserves of approximately 18.3 million of barrels of oil equivalent. The company was founded in 2004 and is headquartered in Woking, the United Kingdom. As of April 18, 2013, Valiant Petroleum plc operates as a subsidiary of Ithaca Energy Holdings (UK) Limited.

Victoria Gate

Chobham Road

Woking,  GU21 6JD

United Kingdom

Founded in 2004

59 Employees

Phone:

44 14 8375 5666

Fax:

44 14 8377 6573

Key Executives for Valiant Petroleum plc

Acting Chief Executive Officer, Non-Executive Director and Member of Remuneration Committee
Age: 47
Chief Financial Officer and Executive Director
Age: 48
Chief Operating Officer and Executive Director
Age: 60
Director of Corporate & Commercial and Executive Director
Compensation as of Fiscal Year 2014.

Valiant Petroleum plc Key Developments

Valiant Petroleum plc Announces Group Earnings and Operating Results for the Year Ended December 31, 2012; Reports Company Cash Flow Results for the Year Ended December 31, 2012

Valiant Petroleum plc announced Group earnings and operating results for the year ended December 31, 2012. For the year, revenue was $232,805,000, operating loss was $59,822,000, loss for the year before tax was $67,670,000 and profit for the year was $1,275,000 or 3 cents per diluted share against revenue of $317,668,000, operating profit of $150,184,000, profit for the year before tax of $142,403,000 and profit for the year of $108,117,000 or 264 cents per diluted share for the same period a year ago. Net cash inflow from operating activities was $112,290,000 and purchase of property plant and equipment was $144,779,000 against net cash inflow from operating activities of $244,386,000 and purchase of property plant and equipment of $57,352,000 a year ago. Purchase of intangible exploration and evaluation assets was $107,458,000 against $89,738,000 a year ago. Net debt was $119 million for the year ended December 31, 2012. On company basis, net cash outflow from operating activities was $22,988,000 against net cash inflow from operating activities of $12,972,000 a year ago. Purchase of property plant and equipment was $53,000 against $302,000 a year ago. Purchase of intangible assets was $267,000 against $386,000 a year ago. The production volume for the year averaged 6,497 bopd against 7,453 bopd a year ago.

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