Aurelian

Corporate governance policy

Personnel
 
The company employed thirty two people as at 31 December 2008. In addition to these, there are contracts with five consulting companies and individuals, to work with the company on certain projects and or areas.
 
The London office houses eight employees, whilst providing a centre where consultants can meet and use the facilities.
 
There is also an office in Bucharest where all the Romanian business is managed, including the financial records.  There is also an office in Warsaw from which the Polish activities are controlled. As further major projects are developed in other countries, similar offices will be established in those countries.
 
 
Disabled Employees
 
The Group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person.
 
Where existing employees become disabled, it is in the Group's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.
 
 
Data and Communications Management
 
The Company has a diverse asset portfolio spread across Central Europe. The core data of the Company is its major asset and its development, management and safe keeping is a management priority. Virtual Private Networks (VPNs) have been established between all remote locations, with automatic and real time back ups based in London office with off site backup in independent facilities. This enables access from any authorised computer within the group through high level firewalls at any time.
 
All financial and commercial data resides in a common database. All technical data is in the process of being digitised and will by the end of 2007 be fully captured and managed through a common database.
 
Well drilling operations are established with on site IT communications, through secure websites, so that management, advisers and consultants can monitor progress without having to travel to site.
 
The Company has invested in state of the art technical data processing programmes and hardware, enabling high level analysis of field data for use in the planning of future operations.
 
 
Environment, Health and Safety Policy
 
The Company is committed to achieving excellent health and safety standards, to reduce accidents and ill health within the workplace and to minimise the impact of its operations on the environment. It insists that all contractors should maintain the same high standards. As a result there were no lost time accidents in the past year and the Bilca Gas Plant was developed with minimum impact on the environment.
 
Parts of the Carpathians are national parks or areas of environmental interest. The Company is sensitive to working in such areas and liaises closely with government departments, partners and other interest groups to comply with local laws and regulations and to minimise any disruption to the environment.
 
Where the Company is non operator, it will work with the operator through the auspices of the Joint Operating Agreement to ensure the operating practices comply with the Company’s policies and standards.
 

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