Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Paladin Resources (PLR)

  Print      Mail a friend       Annual reports

Friday 16 May, 2003

Paladin Resources

AGM Statement

Paladin Resources PLC
16 May 2003





                             PALADIN RESOURCES plc

                                  ("Paladin")



                                 AGM statement



The following statement was made by Paladin's Chairman, Malcolm Gourlay, at the
Company's Annual General Meeting held today:



"2002 was an excellent year for Paladin with another set of record operating and
financial results and substantial progress made in the Company's development. I
am pleased to report that this performance is continuing into 2003.



We now have all the necessary regulatory and partner approvals for the proposed
acquisition of BP's and Amerada's interests in the Montrose, Arbroath and
Arkwright Fields and related acreage in the UK sector of the North Sea which we
announced in December. We intend to complete the transactions next week when
Paladin will also assume its first significant operatorship. The transfer of
operatorship has been achieved very efficiently, and on behalf of shareholders,
I would like to thank all those involved for their considerable efforts without
which this could not have happened. I would also like to thank shareholders for
their support for the £42 million placing and open offer to part-finance this
acquisition which was successfully completed in January 2003.



Production in the first four months of the year from existing Paladin assets has
been approximately 36,000 barrels of oil equivalent per day, in line with our
budget expectations. For the balance of 2003, Group production will be enhanced
not only by the acquired BP/Amerada interests, but also by production from a
significant infill well on the Njord Field in Norway (Paladin 15 per cent) which
will be brought on stream in the near future, and a recently completed second
producer well on the Stine 2 Field in Denmark (Paladin 30 per cent).



On the basis of the above, we would expect full year production for 2003 to
average approximately 45,000 barrels of oil equivalent per day, an increase of
55 per cent over that achieved in 2002.



Development projects in the Group's portfolio are also making good progress. In
the UK, the development of the Goldeneye Field (Paladin 7.5 per cent) and the
flank of the Blake Field (Paladin 2.4 per cent) are both proceeding to plan, and
in the Ross Field (Paladin 30.82 per cent) a further production well is
scheduled to spud in June to drain the north-eastern part of the field.



In Denmark, development of the Stine 1 Field (Paladin 30 per cent) is on track
for first production in late 2003. The Nini and Cecilie Fields which are being
developed as satellites to the Siri production platform are now scheduled to
come on stream in September. Although Paladin has no direct stake in these two
fields, the Company will benefit from their development through the sharing of
Siri operating costs and the receipt of tariff income.



As announced yesterday, I am also pleased to report that exploration well Sofie
1, in which Paladin has a 30 per cent interest and which was drilled
approximately 20 km to the north east of the Siri Field, is an oil discovery.
Preliminary analysis would suggest that the discovery can be developed as a
satellite to the Siri Field; further work will be required to confirm its
economic viability.



In Tunisia, a production concession around the Adam 1 Field in which Paladin has
a 7 per cent interest has recently been approved, and the field will be brought
on stream in the near future. A second Adam well will be drilled in June to be
followed by an exploration well on a separate prospect.



Paladin's strategy is to grow through both acquisition and exploration with the
objective of securing reserves and production on a commercially attractive
basis. Not only is there

significant investment within Paladin's existing portfolio, but the asset
trading market also remains active. As a result I am confident that there will
be further opportunities to acquire assets in the year ahead that will
contribute to the further development of the Group for the benefit of
shareholders.



In summary, while oil prices will, as always, have an effect on earnings, 2003
promises to be another good year for Paladin and its shareholders.



16 May 2003



ENQUIRIES
Paladin Resources plc                                    Tel: 020 7024 4500

Roy Franklin

College Hill                                             Tel: 020 7457 2020

James Henderson
Phil Wilson-Brown








                      This information is provided by RNS
            The company news service from the London Stock Exchange