Plans for growth
Vegas has traditionally grown through exploration success, acquiring acreage from the in country licensing authority. Vegas will continue to play to its strengths and use this option as a future source of growth.
However, given the lead times from early exploration to first oil and to positive cash flow, the Company is now focussed on a more aggressive M&A policy. The Company is actively screening opportunities for growth by acquiring public companies or assets at competitive prices. In addition to these larger targets, Vegas will always be attracted to adding value through the drill bit via traditional farm in deals.
Vegas plans to use its current operating credentials and successful track record in pursuing new opportunities throughout the MENA region.