Special CEO Feature
From The Side-lines
During our World Assembly we pulled aside the following industry leaders for 60-second interviews: ===============================================
Looking back on 2011, what lesson(s) will you take into your business planning for 2012?
“2011 was an interesting time, in fact when MENA came into being on the TSX in May 2011; going from a private company to a public had a lot to do with the capital and equity markets which have been in meltdown since then.
For 2012 what we need to do is position ourselves with some innovative financing and some strong partners to help us take advantage of our clever thinking to deliver new business in 2012 and not be constrained by financial concerns.”
Are you optimistic or pessimistic about the capital markets next year?
“I’ve been in the industry for 30 years and been through five or six cycles. If you’ve been in the industry that long you have the adrenaline going through your body and you have to be involved in it, particularly in a growth vehicle, which MENA is – that excites us. The energy industry is going to be here forever and fossil fuels will be here for a long, long time, so there are always lots of opportunities for E&P firms and MENA and it’s very exciting to be doing it. We’re very happy to be in the industry and not pessimistic.”
Why have you come to The Oil Council Assembly today?
“The Oil Council is good for benchmarking what the industry is doing. It allows me to get a good understanding of what others are doing and making sure I’m ahead of the game. Being around, talking to people, getting feedback here gives us the confidence that we have the right strategy at MENA.”
… G hm Lyo ra a n, C O, MENA Hy E =============================================== Looking back on 2011, what lesson(s) will you take into your business planning for 2012?
“I think what we’ve learned in 2011 in getting capital is that you have to have a robust story. We’ve gone for smaller chunks of capital in 2011 and set ourselves up with a good story so that you can go into 2012, when hopefully the markets will turn, and away you go. There’s a growing interest around the world, particularly in gas. In Australia, you’ve seen an increase in interest in unconventional gas, which you wouldn’t have thought you’d see. Especially since Fukushima, you’ve got the Japanese looking at gas as an alternative to nuclear. I think that with the whole move to carbon neutral, gas is a good step to go through.”
What concerns you in 2012?
“Particularly as a junior, the biggest issue we’ve got is capital. At the frontier, where we are, there is an immediate reaction from investors to pull back, either because they’re caught with lack of liquidity in their current investments or because of a movement towards risk averse. We’ve seen that in 2011. If that continues or if we have another major financial crisis, it’s clearly going to make getting capital more difficult. But as we’ve heard at the conference, if you’ve got a good story, there’s always the capital.”
Why have you come to The Oil Council Assembly today?
“I’ve been very impressed in the type of people that are here, the people interested in investing and new stories, they get the whole mix. Our story is a little different from what other people have heard in London or Canada. It’s a good place to meet people, make connections, and put ourselves on a good footing for our IPO in 2012, which will either be the UK or in Canada.”
… Dv aid Wil a s lim, Ma nagin g D coriret , La s Enrgy ru e droa ons c rb
Drillers and Dealers :::
::: December 2011 Edition
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