Executive Q&A – Independent Oil & Gas Focus


The land position alone at Jolly, 410,000 gross an acre, which is similar to the area within the M25, and is more than adequate to keep the Company busy for the foreseeable future as there are many opportunities in the stratigraphy at Jolly Ranch and whilst the Cherokee is our primary focus there are multiple objectives to explore.


For instance, our acreage has Niobrara present across it and this younger formation, which has not been tested to date in this part of the basin, is really heating up the Denver Basin to the North and West of our land position with both drilling activity and land acquisition, and.


Is shale oil understood well enough by the market in your opinion? Is it an advantage for you or a disadvantage to be working on a play type that is still relatively new compared with shale gas and conventional oil and gas?


Shale Oil began serious development around the turn of the 2000’s, the Bakken, focused on North Dakota, being the key play. The relatively new focus on shale oil was clearly an advantage in accessing cheaper land for


initial leasing however, in the early stages of the assets development, it was harder to communicate the potential in an emerging area of the oil industry. However the success of shale gas and the subsequent drop in gas prices has led many focused on that area to refocus their expertise and equipment on shale oil. This has led to further acreage building in new and established plays and also periods of intense M&A activity. With gas looking more than likely to drop below $2/mcf, coupled with a rise in oil prices; shale oil in the United States, where already in 2012 transactions don’t seem to be letting up, is looking increasingly unconventional.


What were the lessons of 2011 that you would incorporate into 2012’s business planning, and that you would internalize as an O&G CEO in general?


Have a plan B – a plan C wouldn’t go amiss either. As the Operator of the project now we have been designing operating and financial plans well ahead of the actual appointment and our focus on the business is now to deliver the value for the most optimal cost possible.


What next bit of news flow should we look out for from Nighthawk?


We’re now focused on gearing up operationally and we will communicate our work over program in the next few weeks. The results of these will form part of our regular quarterly updates, which are a natural way of informing the market given the way shale assets are developed.


Which other E&P companies do you admire and why?


I’ve always had great admiration for Faroe Petroleum. The business has been built with a very clear focus and in a very clever way. Excellent exploration focus but growing production base obtained through clever asset trades in the early days building an excellent asset base. Above all the executive teams always seem to enjoy what they are doing and communicate their objectives very clearly. I also have an eye on FOGL at present to see if the much more structurally defined Southern Falklands basin can replicate some of the success seen in the north.


When you’re away from work, how do you enjoy spending your spare time?


I’ve a young family so spending time with them is always rewarding, I enjoy spending time on boats and this is always relaxing, it also requires 100% attention so work does get forgotten about. Although the boots were hung up years ago I am an avid rugby fan and am eagerly awaiting the 6 Nations this year (albeit probably watching from behind the sofa).


What do you enjoy most about working in the oil and gas industry?


It is a hugely diverse industry and has implications from what microbes were doing millions of years ago to today’s geopolitics – a truly global industry and a very misconceived one. The people you meet in it are generally very good, friendly people which makes working all that easier.


You’re on a desert island – what three luxuries have you chosen to bring? (N.B. ‘Raft Building for Dummies’, satellite phone, teleportation device etc., not allowed)


I spend too much time away from my family as it is so they’d have to be deserted too (it would be worth Hobbs and Joules opening a branch there however!) In addition I would like ownership of the continental shelf resources – there would bound to be an oil company along in the near future and rescue may as well have some kind of royalty interest attached….oh and some decent malt whisky.


Drillers and Dealers :::


::: February 2012 Edition


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62