The Silverstone goal was to execute a strategy proven effective in building start-up energy businesses in a very competitive North American market, modified as required to fit the North Sea opportunity set. The initial objectives involved building an effective organisation that could deliver our business plan and ensuring the first few steps would set us on a trajectory consistent with that plan. Key elements of the strategy that we intended to transfer directly included our approach to deal flow and capital allocation. We defined three key steps to focus our early efforts towards our 3-5 year objective:

1. Build a Silverstone team that is capable of generating, executing and managing projects at a “best in class” level.
2. Take a disciplined approach to developing a portfolio of niche opportunities that could fuel our growth
3. Establish a track record as an efficient explorer and low cost producer

Five years into the plan we have demonstrated discipline in our execution in a manner consistent with our business plan and have recorded significant progress in achieving several of the objectives. We are on track to achieve our objectives of becoming a focused, profitable North Sea explorer and producer.