This will be achieved through increased exploration in order to add oil and gas reserves, through the development of discoveries and through the acquisition of oil and gas assets, thereby increasing the company’s production of oil and gas in the long term and in thus in turn its cash flow and result. Over time, the total return to shareholders is expected to be attributable more to the increase in share price than to dividends received.
The Board of Directors therefore recommends that no dividend be paid for the 2008 financial year.