The Group will retain its interests in producing and near term development, appraisal and exploration assets.

In the near term the strategy of the Group is to focus on its operations in Trinidad with the principal objectives of executing its committed DWP in the Trintes Field with the aim of increasing production and enhancing cashflow. The Group is also committed to executing its EWP, including drilling seven appraisal/exploration wells within the Galeota Block with the initial target of increasing its Reserves.

As an independent E&P company, Bayfield Energy will be opportunistic and may seek to acquire additional acreage in Trinidad and Tobago or in other favourable jurisdictions. The Group may seek exploration or brown field development opportunities which have low entry costs and high equity participation to exercise control.

The Company intends to meet its respective work obligations in Russia and South Africa (if its application is successful). The Directors believe that these jurisdictions are prospective exploration areas and intend to collect seismic data on both areas and drill an exploration well in the Karalatsky Block by the latter half of 2012.