Key investment highlights
- Zeta Petroleum has a balanced Romanian oil and gas asset portfolio.
- The Company has Pmean contingent gas resources of 44.3Bcf (Billion Cubic Feet), Pmean prospective oil resources of 1.72MMbbls (Million Barrels) and further prospective gas resources of over 14Bcf.
- The Directors anticipate that the deregulation of the Romanian gas price in 2013 (as required by the European Union) may lead to an increase in the price of natural gas in Romania.
- The Company has over 6,000km2 of non-exclusive prospecting permits in the eastern Moldavian area of Romania, a known hydrocarbon prone area.
- Romania is an EU member country that has a long and established petroleum industry, has favourable and stable fiscal terms for oil and gas companies with a low tax rate of 16% and Government royalties, applied on a field by field basis, of between 3.5-13.5% for crude oil and between 3.0-13.0% for natural gas.
- The Company has had established operations and has been actively present in Romania since 2006.
- Eastern Europe is a renowned petroleum province and the Company aims to expand through value-adding acquisitions within Eastern Europe, leveraging off its position in Romania.