Markets have taken the view that the government is doing everything it can against terrorism and to cut subsidies.

All of the assets in our portfolio are performing well and offer promise for the future and I continue to be excited about the potential for the group.

The next few months should prove very interesting with the drilling programme about to start in Bulgaria. In Egypt, I am excited about the El Tamad oil discovery.

This provides an exciting new focus for our exploration programme, particularly as production in Egypt receives the full benefit of the current higher oil price,

He’s not putting through a Mickey Mouse increase. He’s putting through a substantial increase that people will recognize is tackling the problem.