Loyz Posts Higher Net Attributable Profit in 4Q FY 2014
Lockett recently stepped down as CEO (CEO) of Premier Oil Plc (Premier), a leading oil & gas exploration and production company listed on the London Stock Exchange. He joined Premier in 1994 and became CEO in 2005. Whilst in charge, Lockett was able to significantly boost production, which grew from 37,000 barrels of oil equivalent per day (boepd) in 2004 to 58,200 boepd in 2013. Proven and probable reserves and contingent resources have grown from 210 million barrels of oil equivalents (MMboe) to 773 MMboe, while operating cashflows have risen by 580 percent, from $205 million (GBP 119 million) in 2005 to $1.35 billion (GBP 808 million) in 2012. During this period, Premier’s share price increased by more than 140 percent, outperforming the FTSE 250 Index. Today, the company has a market capitalization of about $2.8 billion or GBP 1.7 billion (as at Aug. 22) and Premier is a component stock of the FTSE 250 Index.
Commenting on his advisory appointment, Lockett said: “It is an honor for me to be able to contribute to the growth of a young and dynamic company like Loyz Energy. I look forward to working with Loyz Energy as it charts out its next development phase.”
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