17/06/2026
Early-stage exploration projects are where financial control is often weakest, yet decisions made here determine long-term profitability.
Two critical areas often misunderstood:
- Cost uncertainty during exploration phases
- Weak tracking of Authorization for Expenditure (AFE) approvals
Without disciplined AFE tracking, budgets quickly diverge from actual spend, creating downstream reporting issues that compound across the project lifecycle.
Strong accounting governance in exploration phases is not optional. It is a risk control mechanism.
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