Cautionary Statement Regarding Forward-Looking Statements
This annual report on Form 10-K contains estimates and forward-looking statements, principally in
‘‘Item 1. Business,’’ ‘‘Item 1A. Risk Factors’’ and ‘‘Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations.’’ Our estimates and forward-looking statements are
mainly based on our current expectations and estimates of future events and trends, which affect or
may affect our businesses and operations. Although we believe that these estimates and forwardlooking statements are based upon reasonable assumptions, they are subject to several risks and
uncertainties and are made in light of information currently available to us. Many important factors, in
addition to the factors described in our annual report on Form 10-K, may adversely affect our results
as indicated in forward-looking statements. You should read this annual report on Form 10-K and the
documents that we have filed as exhibits hereto completely and with the understanding that our actual
future results may be materially different from what we expect. Our estimates and forward-looking
statements may be influenced by the following factors, among others:
• our ability to find, acquire or gain access to other discoveries and prospects and to successfully
develop our current discoveries and prospects;
• uncertainties inherent in making estimates of our oil and natural gas data;
• the successful implementation of our and our block partners’ prospect discovery and
development and drilling plans;
• projected and targeted capital expenditures and other costs, commitments and revenues;
• termination of or intervention in concessions, rights or authorizations granted by the
governments of Ghana, Cameroon, Ireland, Mauritania, Morocco (including Western Sahara) or
Suriname (or their respective national oil companies) or any other federal, state or local
governments or authorities, to us;
• our dependence on our key management personnel and our ability to attract and retain qualified
technical personnel;
• the ability to obtain financing and to comply with the terms under which such financing may be
available;
• the volatility of oil and natural gas prices;
• the availability, cost, function and reliability of developing appropriate infrastructure around and
transportation to our discoveries and prospects;
• the availability and cost of drilling rigs, production equipment, supplies, personnel and oilfield
services;
• other competitive pressures;
• potential liabilities inherent in oil and natural gas operations, including drilling and production
risks and other operational and environmental hazards;
• current and future government regulation of the oil and gas industry;
• cost of compliance with laws and regulations;
• changes in environmental, health and safety or climate change laws, greenhouse gas regulation
or the implementation, or interpretation, of those laws and regulations;
• environmental liabilities;
• geological, technical, drilling, production and processing problems;
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