Received letter of No Objection from North Sea Transition Authority (NSTA) for proposed development concept for Avalon
Purchased Summit Exploration and Production Ltd’s 50% interest of the Avalon Oilfield
Relinquishment of Cross licence
DNeX emerges as largest shareholder with completion of its acquisition of additional 60 per cent of Ping, leading DNeX to own 90 per cent equity interest in Ping.
Relinquishment of Ranger licence
DNeX and Ping Petroleum entered into a conditional share sale and purchase agreement to acquire an additional 60% of the issued share capital in Ping Petroleum
Awarded 19.33% working interest in partnership with Ithaca, AHUK on Cook west licence in 32nd Seaward Licensing Round
Obtained remaining 50% working interest and operatorship on Cross licence from Azinor
Relinquishment of K2 licence
Execute production optimization upgrades on Anasuria Cluster
Complete 2nd successful infill well on Guillemot Field
Complete successful infill well on Cook Field
Completed 1st successful infill well on Guillemot Field
Awarded 50% working interest in partnership with Azinor on Cross licence in UK 30th Bid Round
Awarded 50% working interest in partnership with Summit on K2 licence in UK 30th Bid Round
Awarded 50% working interest in partnership with Summit on exploration license in UK 30th Bid Round
• Anasuria produces over 5 mmbo since Ping acquisition
• Updated independent reserve audit on Anasuria by GCA. 7% increase in 2P reserves
Assume operatorship of 50% working interest on Avalon development
Assume operatorship and 100% working interest in Ranger
Drilled Ranger exploration well
Drilled successful appraisal well on Avalon oil discovery
Complete acquisition of 50% working interest in Avalon and 20% working interest in Ranger from Summit Petroleum
Completion of DneX’s acquisition of 30% of Ping Petroleum
Successful Transfer of Anasuria Operatorship
Open Ping Aberdeen office
Signing of Anasuria SPA with Shell and Esso
Incorporation of Ping Petroleum Limited July 2012. Open Ping office in Kuala Lumpur