BUCCANEER ENERGY PLC (BUCE) — A New Strategic Direction

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Nostradero Oil and Gas Company Investor Presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Simply type in your questions at any time and press send. The company may not be in a position to answer every question received during today's meeting. However, the company can review your questions submitted today, and we'll progress your responses where it's appropriate to do so. Before we begin, we'd like to submit the following poll. If you give that your kind attention, I'm sure the company would be most grateful. I'd now like to hand over to CEO, Paul Welch. Good morning. Good morning, and thanks for the opportunity. So good morning, everyone. I'm here to talk about, kind of a change in direction for Nostraterra. About a month ago, we, made a change in leadership. The previous leader was stepped down after fifteen years. And at that time, we also added a new board member, and we significantly trimmed the GNA. That's commensurate with changing the direction of the company. So in years past, the company focused on US oil and gas and things further afield, and they had a a wide spread of assets, part in East Texas, part in South Texas, and some in the Permian and West Texas. And so what we've done since we've come on board is we've gone through and done a review of all the assets, determined where we were generating, the best return for the company, and then those assets that didn't deliver, we decided to divest. So what that meant is that we've focused now primarily on our biggest asset, which is Pine Mills in East Texas. It has a lot of potential. I...