REG - Sterling Energy PLC - Annual results for the year ended 31 December 2016 <Origin Href="QuoteRef">SEY.L</Origin> - Part 2

AfentraAnnouncement

20/03/2017 07:07

- Part 2: For the preceding part double click  ID:nRST8653Za 

Farm-out                                a transaction under which
one party (farm-out party) transfers part of its interest to a contract to
another party (farm-in party) in exchange for a consideration which may
comprise the obligation to pay for some of the farm-out party costs relating
to the contract and a cash sum for past costs incurred by the farm-out party 
 
FA                                                     Funding Agreement 
 
FCA                                                  Financial Conduct
Authority 
 
FPSO                                                Floating, Production,
Storage and Offloading vessel 
 
G&G                                                     geological and
geophysical 
 
GBP                                                  pounds sterling 
 
Genel Energy                                     Genel Energy Somaliland
Limited 
 
Group                                                the Company and its
subsidiary undertakings 
 
HMRC                                               Her Majesty's Revenue and
Customs 
 
HMRC Approved Sub-Plan or               The HMRC approved sub-plan of the All
Staff LTIP 
 
HMRC Sub-Plan 
 
HSSE                                                Health, Safety, Security
and Environment 
 
hydrocarbons                                     organic compounds of carbon
and hydrogen 
 
IFRS                                                 International Financial
Reporting Standards 
 
Index                                                 FTSE 350 Index 
 
JV                                                     joint venture 
 
K                                                      thousands 
 
km                                                    kilometre(s) 
 
km2                                                   square kilometre(s) 
 
lead                                                   indication of a
potential exploration prospect 
 
London Stock Exchange or LSE          London Stock Exchange Plc 
 
m                                                      metre(s) 
 
mcf                                                    thousand cubic feet 
 
NED LTIP                                           non-executive Director Long
Term Incentive Plan adopted in 2009 
 
OECD                                                Organisation for Economic
Cooperation and Development 
 
OPU                                                  Oil Protection Unit 
 
Ordinary Shares                                  ordinary shares of 40 pence
each 
 
P90                                                   the value on a
probabilistic distribution which is exceeded by 90% of the outcomes. 
 
P50                                                   the value on a
probabilistic distribution which is exceeded by 50% of the outcomes. The P50
is also the median value of the distribution. 
 
P10                                                   the value on a
probabilistic distribution which is exceeded by 10% of the outcomes. 
 
Pmean                                              the average of the values
in the probabilistic distribution between defined 'boundary conditions'.
Universally regarded as the best single value to quote or communicate for any
uncertain distribution of outcomes involved in repeated trial investigations. 
 
Panel or Takeover Panel                      the Panel on Takeovers and
Mergers 
 
Petroleum                                          oil, gas, condensate and
natural gas liquids 
 
Petroleum system                              geologic components and
processes necessary to generate and store hydrocarbons, including a mature
source rock, migration pathway, reservoir rock, trap and seal. 
 
Petronas                                            PC Mauritania 1 PTY LTD 
 
Petrosoma                                         Petrosoma Limited (JV
partner in Somaliland) 
 
Premier                                             Premier Oil PLC 
 
Pre Stack Depth Migration                  process by which seismic events are
geometrically re-located  in space and depth to the location the event
occurred in the subsurface 
 
Prospect                                            an area of exploration in
which hydrocarbons have been predicted to exist in economic quantity. A group
of prospects of a similar nature constitutes a play. 
 
PSA                                                  production sharing
agreement 
 
PSC                                                  production sharing
contract 
 
Pura Vida                                          Pura Vida Mauritius 
 
RA                                                    Royalty Agreement 
 
Reserves                                           reserves are those
quantities of petroleum anticipated to be commercially recoverable by
application of development projects to known accumulations from a given date
forward under defined conditions. Reserves must satisfy four criteria; they
must be discovered, recoverable, commercial and remaining based on the
development projects applied. Reserves are further categorised in accordance
with the level of certainty associated with the estimates and may be
sub-classified based on project maturity and/or characterised by development
and production status 
 
Reservoir                                           a porous and permeable
rock capable of containing fluids 
 
Seismic                                             data, obtained using a
sound source and receiver, that is processed to provide a representation of a
vertical cross-section through the subsurface layers 
 
SESP                                                Sterling Energy plc share
price 
 
Shares                                              40p ordinary shares 
 
Shareholders                                      ordinary shareholders of 40p
each in the Company 
 
SMHPM                                            Société Mauritanienne Des
Hydrocarbures et de Patrimoine Minier (Mauritania's national oil company) 
 
Subsidiary                                         a subsidiary undertaking as
defined in the 2006 Act 
 
Tcf                                                     Trillion cubic feet 
 
TSR                                                  total shareholder return
(End Share Price - Opening Share Price/Opening Share Price) plus (Sum of
Dividends per Share/Opening Share Price) 
 
Tullow Mauritania Limited                    Tullow Oil 
 
United Kingdom or UK                        the United Kingdom of Great
Britain and Northern Ireland 
 
UK Corporate Governance Code           Formerly the Combined Code, sets out
standards of good     practice in relation to Board leadership and
effectiveness, remuneration, accountability and relations with shareholders 
 
Waterford Finance and Investment        Waterford 
 
Limited 
 
Working Interest or WI                        a Company's equity interest in a
project before reduction for royalties or production share owed to others
under the applicable fiscal terms 
 
This information is provided by RNS
The company news service from the London Stock Exchange