Purpose and Values
Creating value through responsible oil and gas production
Our purpose is sustainability driven. It directs our decisions and actions, shapes our culture and drives our strategy.
As an oil and gas producer, we recognise we have an important part to play in shaping the future of our industry and a sustainable future.
We seek to drive growth and create long-term value for all stakeholders through responsible oil and gas production.
Central to our purpose are our values.
Our values direct our decisions and actions, shapes our culture and drives our strategy. As an oil and gas producer, we recognise we have an important part to play in shaping the future of our industry and a sustainable future.
Our values are focused on being:
Responsible Stewards of Investors’ Capital
- Strong focus on cash management and conservation
- Vigilance to maintain low fixed costs
- Conservative views on leverage
- Management incentives aligned with share value growth (rather than production volume or acreage targets).
- Internal metrics will focus on corporate cash flows rather than well level IRRs and production volumes
- Goal to return capital to shareholders when practical – and incentive to do so exists as the board are major shareholders
Responsible Stewards of the Environment
- A belief that proper ESG practices are both economically and environmentally beneficial;
- Evaluate and utilise new technologies, such as continuous emissions monitoring at our operated projects, to the greatest extent possible;
- To be active participants in our local communities and, in particular, to be supporters of land and grassland conservation projects in those communities;
- Practice vigilance and humility in regard to local community relations;
- Minimise our land footprint but utilizing efficient pad design and co-location of wells;
- A commitment to retain a strong and independent board, comprised of a majority of Non-Executives and with separation between the Chairman and CEO roles. The board will oversee management’s adherence to each of the above commitments.
