Cash Flow - The Engine of Growth

2012 - Record Annual Earnings and Funds Flow

Calvalley has established a strong base of cash flow and earnings from its exploration success in Block 9.

Increases in proved developed producing reserves has provided a foundation of strong cash flow providing a basis to fund future development and exploration activities through cash flow generation without the need for debt financing or equity dilution.

The sustained production operations at Hiswah, Ras Nowmah and Al Roidhat resulted in the highest annual average production volumes since 2007, which in turn generated record annual earnings and funds flow per share in 2012.

Catalysts for Growth