GlobalAtlantic Petroleum is committed to utilizing United Kindom technology to prove, define, and develop resource play potential and deliver growth for its shareholders.
* Prioritize opportunities and execute a balance of near-term and longer-term projects to maximize potential.
* Acquire assets with known production or verifiable show wells.
* Work in countries with favorable fiscal terms where we earn world market prices.
* United Kingdom
* 12.5% royalty, no production tax
* VAT exempt on exploration licenses, refunded on production leases
* Oil: Brent less $3-5, Natural gas: +/- $7/mcf
* Currently produces less than 5% of oil and gas consumed
* Pursue projects that will permit development from existing cash flow, without the need to tie up excessive capital building reserves.
* Maximizing returns by reducing drilling and operating costs by efficient drilling practices, planning for scale, and partnering out risk.
* Utilize modern technology developed in the U.S. in relation to seismic, horizontal drilling, and stimulation to enhance and commercialize production.