B.OIL INTERNATIONAL

B Oil Company Limited is an oil and gas company with a main focus on Australasia, China, United Kingdom and South East Asia. B OIL core operations are located mainly in the Sydney and Beijing. The producing fields include Cliff Head and MG in Australasia, Zhao Dong in China, as well as Blane and Enoch in United Kingdom. As at December 2011, B OIL had remaining 2P reserve of 16.2 Mambo. B OIL production was 8,483BOEPD for FY10.

Strategy Analysis:
B oil seeks to establish a substantial reserve base for sustainable production. It aims to cost effectively develop and acquire new and existing exploration and production assets in countries within Australasia. Meaningful interests and operator ship is preferred. Leverage is sought from established relationships with governments, national oil companies and joint ventures. B OIL Oil Company reported a net loss of US$35.94m for the year ended 31 December 2010. Revenues from ordinary activities were US$235.43m, up 15% from last year. Basic and Diluted ESP was (5) cents compared to (17.9) cents last year. Net operating cash flow was $58.44m compared to $91.35m last year. No dividend was declared.

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