As a Group, HALO enjoyed a full year’s natural gas production offshore Holland from the November 2017 acquisition of Tullow 101 Netherlands B.V.

Additionally, another transaction was announced and closed; the acquisition of Third Energy Offshore Ltd., (TEOL). TEOL’s inclusion in the Group’s portfolio expanded HALO’s footprint into the United Kingdom’s offshore sector.

HALO achieved its stated goals in 2018 through the integration of producing assets offshore Holland, associated infrastructure; and expanding the corporate presence to the UK.

The Group recorded revenues of £31.1m (2017: £4.3m) and an operating profit (before interest and taxes) of £6.5m (2017: £0.21m). In cash terms, cashflow from operations was £12.3m (2017: £2.2m) and, after capital expenditures of £4.9m (2017: £3.9m), resulted in a year end cash position of £11.3m (2017: £3.8m).

HALO’s assets produced an average of 2,391 boepd, net to the interests acquired and the Group now has net, proven plus probable (“2P”) reserves of 17.2 mmboe between Holland and the UK.



Net average production of 2,391 boepd

December – Acquisition of Third Energy Offshore Ltd

August – L13-FI development brought onstream



November – Reverse takeover of Tullow 101 Netherlands B.V



August – MoU signed with Engie



Corporate restructuring as Hague and London Oil Plc

Offices relocated to The Hague

Relinquishment of Juan de Nova (East Africa), a Wessex Exploration asset

May – Award of 35% interest in new Offshore Exploration Licence in Bournemouth Bay, UK



October – Acquisition of Hague and London Oil BV by Wessex Exploration PLC

October – Acquisition of SC54, Offshore Philippines



Hague and London Oil BV, a privately owned oil & gas company, is founded