• M&P’s working interest production for the first nine months of 2021: 25,032 boepd
o M&P working interest production of 15,160 bopd on the Ezanga permit in Gabon; first effects already noted after the resumption of development drilling in July, with a production of 16,542 bopd for M&P’s working interest in September
o M&P working interest production of 3,607 bopd in Angola and 37.6 mmcfd in Tanzania for the first nine months of 2021
• Valued production of $317 million and sales of $301 million for the period, up 32% and 42% respectively compared to 2020
o Buoyant market with an average sale price of $66.7/bbl for oil
o Sales of $301 million after taking into account drilling activities ($1 million) and the restatement for lifting imbalances and inventory revaluation (combined negative impact of $17 million)
• Accelerating deleveraging thanks to strong cash flow generation
o Cash position of $161 million as at 30 September 2021, representing net debt of $397 million, reduced by $58 million over the first nine months of 2021
o Further debt reduction is expected by the end of the 2021 fiscal year, with sustained cash flow generation due to two crude lifting before the end of the year for a total of around two million barrels
o Refinancing of debt planned by the end of 2021
Source: Business Wire
