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Glossary
A
B
- bll
-
Barrel
- bcf
-
Billion cubic feet
- boe
-
Barrels of oil equivalent
- boepd
-
Barrels of oil equivalent per day
- bopd
-
Barrels of oil per day
C
- CMS
-
Caister Murdoch System
- CMS III
-
A group development of five satellite fields linked to CMS
- CR
-
Corporate Responsibility
- CSO
-
Civil Society Organisation
- CNOOC
-
China National Offshore Oil Corporation
D
- DLT
-
Development Leadership Team
- DoA
-
Delegation of Authority
- DRC
-
Democratic Republic of Congo
- DSBP
-
Deferred Share Bonus Plan
E
- EA
-
Exploration Area
- E&E
-
Exploration and evaluation
- E&A
-
Exploration and Appraisal
- E&P
-
Exploration and Production
- EBITDA
-
Earnings Before Interest, Tax, Depreciation and Amortisation
- EHS
-
Environment, Health and Safety
- EMS
-
Environmental Management System
- ERC
-
Energy Resource Consultants
- ESOS
-
Executive Share Option Scheme
F
- FEED
-
Front End Engineering and Design
- FPSO
-
Floating Production Storage and Offloading vessel
- FRC
-
Financial Reporting Council
- FRS
-
Financial Reporting Standard
- FTG
-
Full Tensor Gravity Gradiometry
- FTSE 100
-
Equity index whose constituents are the 100 largest UK listed companies by market capitalisation
- FVTPL
-
Fair Value Through Profit or Loss
G
- GELT
-
Global Exploration Leadership Team
- GNPC
-
Ghana National Petroleum Corporation
- GoU
-
Government of Uganda
- Group
-
Company and its subsidiary undertakings
H
I
- IAS
-
International Accounting Standard
- IASB
-
International Accounting Standards Board
- IFRIC
-
International Financial Reporting Interpretations Committee
- IFRS
-
International Financial Reporting Standards
- IMS
-
Information Management System
- ISO
-
International Organization for Standardization
K
L
- LIBOR
-
London Interbank Offered Rate
- LTI
-
Lost Time Incident
- LTIFR
-
LTI Frequency Rate measured in LTIs per million hours worked
M
- mmbbl
-
Million barrels
- mmbo
-
Million barrels of oil
- mmboe
-
Million barrels of oil equivalent
- mmscfd
-
Million standard cubic feet per day
- MoU
-
Memorandum of Understanding
- MTM
-
Mark To Market
N
- NGO
-
Non-Governmental Organisation
O
- OR&A
-
Operational Readiness and Assurance
P
- p
-
pence
- P10
-
Reserves and/or resources estimates that have a 10 per cent probability of being met or exceeded
- P50
-
Reserves and/or resources estimates that have a 50 per cent probability of being met or exceeded
- P&D
-
Production and Development
- PAYE
-
Pay As You Earn
- PRT
-
Petroleum Revenue Tax
- PSC
-
Production Sharing Contract
- PSP
-
Performance Share Plan
S
- SCT
-
Supplementary Corporation Tax
- SIP
-
Share Incentive Plan
- SMC
-
Senior Management Committee
- SPA
-
Sale and Purchase Agreement
- sq km
-
Square kilometres
- SRI
-
Socially Responsible Investment
T
U
- UK GAAP
-
UK Generally Accepted Accounting Principles
V
- VAT
-
Value Added Tax
W
-
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Financial statements
Group income statement
Year ended 31 December 2010
| Notes | 2010 $m |
2009 $m |
|
|---|---|---|---|
| Sales revenue | Note 2 | 1,089.8 | 915.9 |
| Cost of sales | (611.4) | (625.5) | |
| Gross profit | 478.4 | 290.4 | |
| Administrative expenses | (89.6) | (77.6) | |
| Profit on disposal of subsidiaries | Note 25 | – | 16.0 |
| Profit on disposal of oil and gas assets | 0.5 | 4.9 | |
| Exploration costs written off | Note 9 | (154.7) | (82.7) |
| Operating profit | Note 3 | 234.6 | 151.0 |
| Loss on hedging instruments | Note 18 | (27.7) | (59.8) |
| Finance revenue | Note 2 | 15.1 | 2.1 |
| Finance costs | Note 5 | (70.1) | (60.8) |
| Profit from continuing activities before tax | 151.9 | 32.5 | |
| Income tax expense | Note 6 | (79.4) | (1.9) |
| Profit for the year from continuing activities | 72.5 | 30.6 | |
| Attributable to: | |||
| Owners of the parent | 54.0 | 25.2 | |
| Non-controlling interest | Note 23 | 18.5 | 5.4 |
| 72.5 | 30.6 | ||
| Earnings per ordinary share | Note 8 | ¢ | ¢ |
| Basic | 6.1 | 3.2 | |
| Diluted | 6.1 | 3.1 |
Group statement of comprehensive income and expense
Year ended 31 December 2010
| Notes | 2010 $m |
2009 $m |
|
|---|---|---|---|
| Profit for the year | 72.5 | 30.6 | |
| Cash flow hedges | |||
| Losses arising in the year | Note 18 | (26.8) | (18.0) |
| Reclassification adjustments for losses included in profit on realisation | Note 18 | (10.3) | (13.3) |
| (37.1) | (31.3) | ||
| Exchange differences on translation of foreign operations | (11.4) | 42.0 | |
| Other comprehensive income | (48.5) | 10.7 | |
| Tax relating to components of other comprehensive income | Note 18 | 8.2 | (12.4) |
| Other comprehensive income for the year | (40.3) | (1.7) | |
| Total comprehensive income for the year | 32.2 | 28.9 | |
| Attributable to: | |||
| Owners of the parent | 13.7 | 23.5 | |
| Non-controlling interest | 18.5 | 5.4 | |
| 32.2 | 28.9 |
