| AFR |
Afren's ticker symbol on the LSE |
| AGM |
Annual General Meeting |
| bbls |
barrels of oil |
| boe |
barrels of oil equivalent |
| bcf |
billion cubic feet of gas |
| bopd |
barrels of oil per day |
| boepd |
barrels of oil equivalent per day |
| bn |
billion |
| Capital employed |
equity plus interest-bearing debt |
| Development well |
a well drilled specifically into a previously discovered field |
| Deg API |
a measure of how heavy or light a petroleum liquid is compared to water |
| dwt |
dead weight tonnage |
| CR |
Corporate Responsibility |
| EHSS |
Environment Health, Safety, and Security |
| FPSO |
Floating Production, Storage and Offloading vessel |
| Farm in |
to acquire an interest in a license from another party |
| Farm out |
to assign an interest in a license to another party |
| ft |
feet |
| Hydrocarbons |
compounds containing only the elements hydrogen and carbon, they may exist as solids, liquids or gases |
| JDZ |
Joint Development Zone |
| Joint venture or JV |
a group of companies who share the cost and rewards of exploring for and producing oil or gas from a Permit or License |
| km2 |
square kilometres |
| License or Permit |
area of specified size, which is licensed to a company by the government for production of oil and gas |
| LSE |
London Stock Exchange |
| Major |
Major international oil company |
| mmbbl, mmbbls |
million barrels |
| mmboe |
millions of barrels of oil equivalent |
| mmcf/d |
million cubic feet of gas per day |
| MOU |
Memorandum of Understanding |
| OML |
Oil Mining License |
| OPL |
Oil Prospecting License |
| Q1 |
first quarter |
| Q2 |
second quarter |
| Q3 |
third quarter |
| Q4 |
fourth quarter |
| Operator |
a company which organizes the exploration and production programs in a permit or license on behalf of all the interest holders in the permit or license |
| P |
pence or pence sterling |
| Spud |
to commence drilling a well |
| STOIIP |
Stock Tank Oil Initially In Place |
| Tcf |
Trillion cubic feet of gas |
| W I |
working interest |
| 2D Seismic |
two - dimensional seismic |
| 3D Seismic |
three - dimensional seismic |
| 1P Reserves |
proven reserves |
| 2P Reserves |
proven and probable reserves |
| 3P Reserves |
proven, probable and proven reserves |