2006 Management appointed
 
Brunei Block L PSA
 
2007 Brunei Block L: $23 million industry farm-out for 50%
 
Syria Block 9 PSC
2008 Brunei Block L: 3D seismic  
2009 Brunei Block M: acquire 36% WI
 
Brunei Block M: 3D seismic
2010 IPO (Warsaw)
 
Ukraine: KUB-Gas acquisition
 
Ukraine: Serinus net in Q4 of 4.0 MMcf/d
 
Brunei: drilled four exploration wells
2011 Ukraine: active drilling, fracs, EBRD loan
 
Ukraine: Serinus net in Q4 of 8.4 MMcf/d
 
Brunei Block L: increase WI to 90%
2012 Ukraine: Serinus max in Q1 15.1 MMcf/d
 
Ukraine: first successful dual completion
 
Ukraine: spudded NM-1 well
2013 Ukraine: KUB-Gas repays USD 10 million of EBRD loan
 
Ukraine: first dividend from KUB-Gas – USD 7 million
 
Brunei: spudded Lukut Updip-1
2013 Aquisition of Winstar Resources, Canadian exploration and production company:
 
– over 50% increase of production,
 
– triple increase of reserves,
 
– expansion the portfolio of assets – 13 licenses in five countries,
 
– listing on stock exchanges in Warsaw and Toronto,
 
– market capitalization: about 1 billion PLN
 
2013 – Another loan from the EBRD - USD 60 million for work in Tunisia
 
– Discovery of oil on the North Makeevskoye field
 
– 47% increase in gross revenues y/y
 
– Increase in the average net production to 4,081 barrels of oil equivalent per day - 54% more y/y
 
– Proven, probable and possible reserves (3P) increased by 129%, 2P reserves by 119%
 
2014 Launching of the new Makeevskoye gas processing plant, which increases the capacity of KUB-Gas infrastructure to more than 1.92 million cubic meters of gas per day:
 
– Advanced preparations for drilling works in the Sabria field, and reconstructive works in Chouech Es Saida and Ech Chouech fields in Tunisia
 
– Cooperation with Geofizyka Toruń on seismic acquisition on Sanrhar concession in Tunisia with a purpose of gaining 203 sq. km of 3D data
 
– Spud of O-11 well in Ukraine
 
2015 Investments in increasing production capacity and wider portfolio of production concessions. Commercial production from the well Win-12bis and consequent preparation wells in Tunisia, Romania and Ukraine for the future commercial production.
 
– High tests results of wells in Romania and Satu Mare concession extension for another 3 years.
 
– Stable increase of production capacity in Tunisia and Ukraine.
 
– Another successful tests confirming the presence of hydrocarbons and good perspectives for further assets development.
 
2015 December 2015:
 
– Running out of possibilities for further development of Ukrainian asset. Selling 100% of KUB-Gas shares for US$30 million and transferring financial resources to more promising assets.