Full Year 2018 Premier Oil PLC Earnings Call Transcript
Well, welcome, everybody to the 2018 results presentation for Premier. 2018 was a very strong year financially and operationally. I will turn over to Richard shortly to take you through the financial results.
This morning's presentation, though, seeks to leave you with 3 messages, I think. Firstly, we have a very strong production base, which is currently exceeding expectations, very high uptime, low cost, has a very low effective tax rate, driven by Catcher, which we'll talk about and the production base is, of course, generating very strong cash flows at current oil prices and is driving the net debt reduction that we've seen in 2018 continuing into 2019, which as you know, I hope, is one of our principal strategic drivers currently.
Number 2, though, that production base has a very good record of reserve improvements, production profile improvements, life extensions. Good fields get better, as they say. And we're going to spend some time talking this morning about specific examples of upsides within the production
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