Considering that the global oil price has fallen by up
to 50% has forced the Company to undertake cost
efficiency measures in a comprehensive manner
including rescheduling exploration timetables, while
maintaining investments that directly impact an increase
in production. The Company believes that the price of
oil will not stay low over a prolonged period of time, and
that oil price will rebound to around US$70/barrel by 2016
(source: Goldman Sachs oil price projection, 11 January
2015), and as such the Company is confident that the
business of oil and gas will still remain to be the backbone
of the Company for the foreseeable future.