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The valuation of assets and business opportunities is essential to the competitiveness of the energy industry. Defining and reassessing asset acquisition strategies is increasingly important as new entrants and existing operators compete for market opportunities. The key objectives of this conference will be to assess the importance of portfolio optimisation and how this effects business strategy. The event will also look at strategies for selecting assets for disposal and determine how to secure and raise acquisition financing and review current acquisitions strategies.

Key topics to be addressed to name but a few will include: tax implications of M & A deals, creating effective partnerships, specifically in the North Sea, revitalising mature assets, applying risk analysis, understanding presence, opportunities, access and exploitation of the business, due diligence and integrating business recovery strategies. Discussion of the portfolio optimisation process, developing focused asset acquisition strategies and selecting assets for disposal will be central themes through out.

Benefits of Attending
Determine key elements of asset strategic growth
Achieve a greater understanding of risk analysis
Assess the impact of abandoned field re-development
Identify the operative way to select assets for disposal
Understand the integration behind portfolio decisions

A unique opportunity to learn from leading industry experts:
Les Wood, Project Manager Upstream M & A, BP
Brian Nottage, Business Developer & Negotiator, ConocoPhillips
James Hargreaves, Commercial Advisor, EnCana UK
John Austin, Manager Exploration & New Business, RWE Dea UK
Nic Rigby, Marketing Manager, RWE Trading
Joe Tischner, Director, PPDM Association
Mark Marshall, Senior Consultant, Premier Oil

“An excellent information source and networking event. Everyone interested in oil and gas A & D should attend”
Previous SMi Asset Acquisitions, Disposals and Swaps conference delegate

Conference programme

8:30 Registration and Coffee

9:00 Chairman's Opening Remarks

Jonathan Legg

Jonathan Legg, Group Managing Director, Consort Resources

9:10 POSSIBLE TAX IMPLICATIONS OF MERGERS AND ACQUISITIONS DEALS

Derek Leith

Derek Leith, Head of UK Oil and Gas Taxation, Ernst & Young

  • Reorganisation to denote rearrangements of a company’s share capital
  • Real property gains, stamp duties and tax issues
  • Income tax effects based on mergers, acquisitions and reorganisation of businesses
  • Related employment and expenses issue
  • 9:40 THE NORTH SEA

    Tom Windle

    Tom Windle, Director, Actis Geoscience

  • The new North Sea players – their structures and strategies
  • The strategic opportunities and issues of the new environment
  • Models for the renaissance of exploration in the North Sea
  • An approach to deal making
  • Recipes for success
  • 10:20 STRATEGIC FIT

    James Hargreaves

    James Hargreaves, Commercial Advisor, EnCana UK

  • Strategic objectives, portfolios, advantages and preferences
  • Market understanding, presence, opportunities, access and exploitation
  • Asset evaluation, peer review, sensitivity and real worth
  • Tactical promotion, approach and creativity
  • Close, integrate, exploit and audit
  • 11:00 Morning Coffee

    11:20 DUE DILIGENCE AND INTEGRATING BUSINESS RECOVERY STRATEGIES

    Ian Glover

    Ian Glover, Director, Insight Consulting

  • Professional management practices
  • Benchmarking
  • Risk assessment
  • True profitability (the cost of retrospectively applying good business continuity management)
  • Issues with inherited third party business continuity and disaster recovery contracts
    Integrating technical recovery strategies
    Short term actions
  • Medium term actions
    Long term actions
    The integration of crisis management structures
  • 12:00 CURRENT TRENDS IN THE GLOBAL ASSET MARKET

    Simon Ashby Rudd

    Simon Ashby Rudd, Managing Director, Waterous and Co

  • Review of activity in 2003 – the false dawn or prelude to change?
  • Impact of a high commodity price environment
  • Emergence of a new buyer community
  • A competitive market – UKCS example
  • Regional review of global opportunities
  • Outlook for 2004 – land of opportunity or more of the same?
  • 12:40 Networking Lunch

    14:00 SELECTING ASSETS FOR DISPOSAL

    Brian Nottage

    Brian Nottage, Business Developer & Negotiator, ConocoPhillips

  • Management and administration of asset disposal
  • Internal arrangements and the use of disposal agents
  • Preparing assets for disposal
  • The disposal process
  • Summary
  • 14:40 AN ANALYSIS OF FAIR VALUATION

    Olivier Allen

    Olivier Allen, Executive, Deloitte Petroleum Services

  • Review how different risks impact asset valuation
  • Introduction to best practices to capture the full value and maximise transaction success rate
  • Portfolio impacts - tax - diversification
  • Mature asset example: pricing abandonment liabilities risks, the devil is in the details
  • 15:20 NEW ENTRANT STRATEGIES

    John Austin

    John Austin, Manager Exploration & New Business, RWE Dea UK

  • Strategic drivers for E & P new entrants, set in context of utility companies
  • Changing focus of UKCS production and new opportunities
  • Importance of strong local gas market to overseas utilities investors
  • How can late entrants to the UKCS compete in a crowded marketplace?
  • Importance of cross-discipline synergy
  • 16:00 Chairman’s Closing Remarks and Close of Day One

    8:30 Re-registration and Coffee

    9:00 Chairman's Opening Remarks

    Dr Gerry Orbell

    Dr Gerry Orbell, Director, Antrim Energy

    9:10 LEARNING FROM 2003 NORTH SEA DISPOSAL PROGRAMME

    Les Wood

    Les Wood, Project Manager Upstream M & A, BP

  • Asset selection
  • Optimising the disposal process
  • Real time shared learning
  • Transition and completion
  • 9:40 DETERMINING AND GETTING THE MAXIMUM VALUE FOR YOUR ASSETS

    Joe Tischner

    Joe Tischner, Director, PPDM Association

  • Establishing long-run profit maximising tariffs
  • Maximising the profits derived from a segment of assets
  • Outlining alternative sources of energy to be considered
  • The economic value of the system fixed assets
  • The present value of the after cash overflows
  • The net realisable value of the assets and the final components requiring evaluation
  • 10:20 PORTFOLIO RATIONALISATION – EVALUATING AND UPGRADING YOUR PORTFOLIO

    Nic Rigby

    Nic Rigby, Marketing Manager, RWE Trading

  • Energy price fluctuations and talk of energy shortages
  • Utility deregulation and political risk
  • Growing corporate commitments to sustainable economic growth
  • Financing assets by working with partners
  • Enhancing revenue by selling on risk
  • 11:00 Morning Coffee

    11:20 PANEL DISCUSSION - ABANDONED FIELD REDEVELOPMENT

  • Site investigations and cost estimates
  • Construction and redevelopment of the site
  • Identifying an effective scope for environmental concerns
  • Interpreting the information to evaluate costs, risks and procedures
  • The strategic application of financial and technical resources
  • Developing realistic, economically feasible alternatives and implementing then correctly
  • Olivier Allen

    Olivier Allen, Executive, Deloitte Petroleum Services

    Joe Tischner

    Joe Tischner, Director, PPDM Association

    Nic Rigby

    Nic Rigby, Marketing Manager, RWE Trading

    12:00 ASSET ACQUISITIONS AND DISPOSAL DEALS

  • The consequences of abandonment
  • Obtaining access to infrastructure
  • Financing deals
  • Closing deals
  • Paul Griffin

    Paul Griffin, Senior Consultant, Herbert Smith

    Jason Fox

    Jason Fox, Senior Consultant, Herbert Smith

    12:40 Networking Lunch

    14:00 AAD&S DATA

    Alan Smith

    Alan Smith, Managing Consultant, Paras Consulting

  • Accessing opportunities – where to look
  • What data do you need to make AAD&S decisions?
  • Understanding data obligations & minimising them impact
  • Integrating data into the organisation
  • 14:40 EVALUATING AND MANAGING LEGAL AND POLITICAL RISKS

    Doran Doeh

    Doran Doeh , Partner, Denton Wilde Sapte

  • Looking at the big picture
  • Balancing legal, political, commercial, technical and other risks against benefits
  • Different legal environments and their political and commercial consequences
  • Risks of different transactions – what, how, much?
  • Preparing and structuring the transaction to reduce legal and political risks
  • 15:20 Chairman’s Closing Remarks and Close of Conference followed by Afternoon Tea

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    WHAT IS CPD?

    CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

    ‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

    CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

    Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

    CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.

    CPD AND PROFESSIONAL INSTITUTES

    There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

    For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

    CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.

    TYPICAL CPD SCHEMES AND RECORDING OF CPD (CPD points and hours)

    Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

    ‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

    ‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

    The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

    As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.

    GLOBAL CPD

    Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

    CPD Certificates

    We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@smi-online.co.uk

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