GENERAL BUSINESS PRINCIPLES

 

A key driver to our success is a comprehensive understanding by all of us from our Board through to each employee – of FHN’s business model and ethics. Specifically, FHN aims to build a portfolio of exploration, production, and development assets in Nigeria, with a particular emphasis on existing discoveries that offer low cost/high impact reserves growth.

Corporate Governance

FHN is committed to the highest standards of corporate governance, transparency & fair dealing in compliance with all applicable local laws and rules.

Unconventional and Innovative

We are willing to take up new challenges. We are not afraid to try new approaches in the way we work; we thrive on being innovative in all areas of the business and reward those who show leadership in these areas.

 

Trust through Open Communication

At FHN, our success depends on everyone and we understand its importance of through connecting with our employees, our business partners and our shareholders. We encourage an environment of lasting relationships built on trust and one voice.

 

Commitment to Continuous Development

We continually learn from past experiences. The information, ideas and conclusions from these experiences drive our continuous improvement. We are prepared to adapt ourselves to maintain a high impact in an environment where the only constant is change.

Our responsibilities to our shareholders:

We aim to provide our shareholders with exceptional financial returns on their investments in the company.

 

Our responsibilities to our employees:

We recognize that a successful business depends on the commitment and competence of its employees.

We are an equal opportunities employer, and provide competitive terms of employment in a safe and healthy working environment.

Our employees are encouraged to maximize their abilities and talents as we provide opportunities for their professional development.

We recruit local employees wherever possible, and provide training and development to maximize their opportunities.

Our responsibilities to our partners, contractors and others with whom we do business: We will always seek to do business with companies whose ethics and business principles are consistent with our own.

We respect the business interests of our partners and contractors and seek to conduct our business openly and to mutual benefit.

Our partners and contractors’ employees are equally protected under the same high standards of Health, Safety & Security as our employees to the best of our capacity and policies on sites we control.

Our corporate social responsibilities:

In accordance with the laws of Nigeria, we continually demonstrate leadership in our conduct to social responsibility and transparency.

We seek to establish openly working relationships with local & national government departments and agencies in the communities our operations are located.

Social and environmental considerations are always taking into account when making all business decisions. Hence, we seek to minimise the impact of our operations on the environment.

Our business ethics and integrity:

We conduct our business to the highest ethical standards.

We are principled on honesty, integrity and fairness in our relationships with others we believe are vital in establishing and maintaining a lasting mutually beneficial relationship as a sound foundation for a successful business.

We require employees to avoid conflicts of interest between their own financial interests and the part they play in the conduct of the Companys business.

We demand that our contractors have the same ethical standards.

Our commitment to health, safety, environment and security:

We have a comprehensive EHSS (Environment, Health, Safety and Social) policy in compliance to high operating standards.

Implemented through our EHSS management system, we seek progressive performance improvements in accordance with Section 2 of the Environmental Impact Assessment Act (“EIAA”) that precludes undertaking certain projects or activities without prior consideration, at an early stage, of its environmental effects. Specifically, the EIAA provides that where the proposed project activity is likely to significantly affect the environment, its environmental impact assessment shall be undertaken in accordance with the provisions of the EIAA. In determining the environmental effect of any activity, the EIAA provides that the relevant significant environmental issues should be identified and considered. The environmental impact assessment report must be submitted to the Nigerian Environmental Impact Assessment Agency for review.

Consequently, we give EHSS consideration equal standing with other key business drivers and we expect our partners and contractors to operate to EHSS standards consistent with our own.

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