Welcome on Board

Your New Energy...

Dear Shareholders, it gives me great pleasure to report that the process of remaking Acorn Petroleum is gaining momentum as evidenced by the significant success recorded during the year.

While our numbers may look good and they are good compared to previous years, we will not allow ourselves to be defined by numbers. Numbers are not the vision but are products of the vision. Our vision is to be a leader in our sector and all our energies and resources are geared towards this.

The new Acorn brand presents to us a new hope and a new spirit. It not only encapsulates the very essence of our convictions as an organization, it reflects the extent to which we are willing to go in realizing the possibilities it offers.

The capital raised through the hybrid offer of Rights to existing shareholders and by way of private placement was deployed to acquire some critical infrastructures required for our business as well as support working capital.

I would like on behalf of management to express my appreciation to the Board for their support, to our esteemed shareholders for the belief in the vision and to everyone that has in one way or the other contributed to the rebirth of the Acorn dream.

At Acorn, we say our morning has just begun. We will continue to create value for all our shareholders, surpass the expectations of our customers, earn the respect and cooperation of other stakeholders and ensure we improve the life of the communities where we conduct our businesses.

Every Acorn seed carries within it enormous power to become a mighty oak. This has become a model for us to follow.

We are confident that even as our new identity has become a source of inspiration to us, it will continuously guide the process of making Acorn your new energy.

Doyin Adeyinka

MD/CEO