Development of existing licences
The Company’s portfolio consists of two licences containing three fields and a prospect. In addition, the company has retained economic interest in the Orlando field, which is currently in production, and the Pegasus area.
Acquiring licences and farming into licences
Part of Atlantic Petroleum’s overall business model is acquiring and farming-in to licences to strengthen its portfolio. The Company is constantly screening the market in order to identify new licences which may constitute attractive investment opportunities for the Company. Atlantic Petroleum has a strategic focus on projects with near term cash flow potential and possibilities for optimisation of exploration costs.
Atlantic Petroleum’s focus to date has been on the relatively smaller prospects or discoveries, which are outside the focus area of major oil companies, and which have the potential to reach production within a relatively short time frame.