It is anticipated that full year base production, excluding any contribution from the start-up of the Stella field during 2016, will be modestly ahead of the 9,000 boepd guidance range. Read More During the final quarter of the year base production volumes will be reduced compared to the previous quarters as a result of the planned maintenance shutdown of the Brent Pipeline System that serves the Company’s Northern North Sea fields, which is now expected to take approximately four weeks. Financials Cashflow from Operations Despite continued weakness in commodity prices over the period, the business has delivered YTD-2016 cashflow from operations of $117 million.This performance highlights the benefit of the commodity hedges the Company has in place and significant operating costs savings that have been secured through re-setting of the cost base. Hedging During the recent pick-up in Brent prices the Company extended its commodity hedging position by a further 1.5 million barrels of 2017 oil production.Of this volume half has been hedged using collars with a floor price of $46/bbl and a celling price of $60/bbl and the other half has been hedged using put options with a floor price of $53/bbl. Taking into account the additional volumes, the Company now has 7,800 boepd (71% oil) hedged at an average floor price of $52/boe for the 15 months to December 2017.Full commodity price upside exposure has been retained on 50% of the volumes hedged and upside exposure to $60/boe has been retained on a further 20%. Operating Expenditure Over the course of 2016 operating costs have continued the downward trend established in 2015, with the business delivering a YTD-2016 unit operating expenditure of $23/boe.This is under the previously lowered full year guidance for the existing producing asset base of $25/boe and represents a substantial 23% saving on the $30/boe level originally forecast for the existing producing asset base at the start of the year.Following the start-up of production from the Stella field this cost is forecast to reduce to under $20/boe, reflecting the lower unit operating costs associated with the field. Capital Expenditure Total capital expenditure in 2016 is now forecast to increase from $50 million to $60 million.This increase is a result of the accelerated GSA oil export pipeline installation operations, the total project cost of which remains unchanged.Of the total 2016 expenditure approximately $50 million is expected to be paid this year, with the balance due in 2017. Net Debt The Company has continued to delever the business ahead of first hydrocarbons from the Stella field, with net debt reduced to $598 million at 30 September 2016; down $67 million since the start of the year and over $200 million since its peak in the first half of 2015. During October 2016 the Company completed its semi-annual reserves based lending (“RBL”) facilities review, resulting in an available RBL borrowing capacity of over $410 million. When combined with the $300 million senior unsecured notes that are in place, the business has a total debt capacity of over $710 million. Tax The Company had a UK tax allowances pool of over $1,750 million at 30 September 2016.At current commodity prices the pool is forecast to shelter the Company from the payment of corporation tax over the medium term. During the year the UK government reduced Corporation Tax rates levied on E&P companies by 10% and effectively abolished Petroleum Revenue Tax charges.As a result of these changes, the last of which was enacted during the Quarter, a one-off non-cash deferred tax charge of $61.7 million is reflected in the YTD-2016 Income Statement.
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I.ave a degree in orgasmic chemistry. Example Media CV . The company you are applying to may contact these references to find out more about your previous work. Here are a few. If, however, you have a lot of very short phrases, breaking them up into billeted lists can leave a lot of white space that could be used more efficiently. Curriculum scripting: Often called “scripted curriculum,” the scripting of curriculum is the most prescriptive form of standardized, pre-packaged curriculum, since it typically requires teachers to not only follow a particular sequence of preprepared lessons, but to actually read aloud from a teaching script in class. What to include in a chronological CV Your contact details – including home address, home and mobile telephone numbers and your email address. For example, if you put the name of one organization in italics, every organization name must be in italics. Formatting should support and not obscure the content of your CV.
or the investing public with (i) any additional information regarding Mr. Mottern’s current status as a CPA, (ii) any evidence that Mr. interview skills ppt downloadMottern ever was a CPA or (iii) any explanation for including what now appears to be false and misleading information regarding a material feature of Mr. Mottern’s biographical background in the Company’s proxy statement for three consecutive years. Save Farmer Bros. finds it disturbing that the Board appears to be attempting to sweep these material misrepresentations and resume discrepancies under the rug. Years of what appear to be inaccurate SEC filings, website biographies and, most likely, D&O questionnaires and curriculum vitae (including, presumably, the CV provided to FARM when Mr. Mottern was recruited as a director in 2013) would be inexcusable. Make no mistake about it This is a major deal. Since his election to the Board in late 2013, Mr. Mottern has served as the Chair of the Company’s Audit Committee. If Mr. Mottern embellished his resume credentials, or failed to correct material misrepresentations in the Company’s public filings, we believe that would completely undermine his credibility as a director, no less his position as Chair of the Company’s Audit Committee. Read More To make matters even worse, Save Farmer Bros. has discovered that FARM also misrepresented Chairman Randy E.
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