HIGHLIGHTS Highlights:
· Average Q4 2022 production of approximately 22,757 barrels of oil equivalent per day ("boepd"), an 11% increase from the previous quarter, with current production of approximately 23,440 boepd
· Record corporate production exceeding 24,000 boepd achieved in December
· 2022 drilling programme completed, delivering 31 gross (18.4 net) wells, which met or exceeded management's expectations and completed approximately 5% underbudget in a high inflationary environment
· In Q4, 10 gross wells (5.7 net) brought onto production and 8 gross wells (4.3 net) drilled in its core Central Alberta, Wapiti and Clearwater assets
· Completed the 13/23c-12 appraisal well on the UK North Sea Serenity field, with a single well field development plan now being progressed
· Dividends of £5.098 million declared and £3.399 million paid in the quarter, with total dividends of £15.351 million paid in 2022
· Operations commenced on the 2023, USD 64.05 million capital programme ahead of schedule targeting 23 gross wells, with 6 gross (4.3 net) wells drilled