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The directors are responsible for preparing the financial statements in accordance with applicable law and
regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have elected to prepare the financial statements in accordance with International Financial Reporting
Standards (IFRSs) as adopted by the European Union. The financial statements are required by law to give a true
and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
International Accounting Standard 1 requires that financial statements present fairly for each financial period
the company's financial position, financial performance and cash flows. This requires the faithful representation
of the effects of transactions, other events and conditions in accordance with the definitions and recognition
criteria for assets, liabilities, income and expenses set out in the International Accounting Standards Board's
'Framework for the preparation and presentation of financial statements'. In virtually all circumstances, a fair
presentation will be achieved by compliance with all applicable IFRSs. However, directors are also required to:
properly select and apply accounting policies;
present information, including accounting policies, in a manner that provides relevant, reliable,
comparable and understandable information;
provide additional disclosures when compliance with the specific requirements in IFRSs are insufficient
to enable users to understand the impact of particular transactions, other events and conditions on the
entity's financial position and financial performance; and
make an assessment of the company's ability to continue as a going concern.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the company and enable them to ensure that the financial statements comply
with the Companies (Jersey) Law 1991. They are also responsible for safeguarding the assets of the company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
For and on behalf of the board
Manssour Aboukhamseen
Executive Chairman & Managing Director
30 September 2016
Disclaimer
This results announcement contains certain forward-looking statements that are subject to the usual risk factors
and uncertainties associated with the oil and gas exploration and production business. Whilst the group believes
the expectations reflected herein to be reasonable in light of the information available to them at this time, the
actual outcome may be materially different owing to factors beyond the Group’s control or otherwise within the
Group’s control but where, for example, the Group decides on a change of plan or strategy. Accordingly, no
reliance may be placed on the figures contained in such forward-looking statements.
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