STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
FIRST HALF YEAR
· Group revenue totalled SEK 359 million (625)
· EBITDA was SEK 220
million (-134)
· Profit after tax was SEK -74 million (-316)
·
Earnings per share were SEK -0.66 (-12.97)
SECOND QUARTER
· Group revenue totalled SEK 181 million (266)
· EBITDA was SEK 106
million (-346)
· Profit after tax was SEK -26 million (-350)
·
Earnings per share were SEK -0.23 (-12.89)
KEY EVENTS DURING THE QUARTER
· The farm-out in the 12/06 licence to Dana received governmental
approval
· The 9/06 (Gita) licence was relinquished
· Mark
McAllister and Jérôme Schurink were elected new members of the Board at
the AGM and Jérôme Schurink was elected Chairman
· Continued
uncertainty and delays in the Zarat farm-out process
SUBSEQUENT EVENTS
· The Didon transaction closed on 11 July
FINANCIAL KEY RATIOS
| Apr-Jun | Jan-Jun | Full year | ||||||||
| 2014 | 2013 | 2014 | 2013 | 2013 | ||||||
| Average production, barrels/day | 3,200 | 5,400 | 3,300 | 6,100 | 5,000 | |||||
| Revenue, SEK million | 181 | 266 | 359 | 625 | 1,049 | |||||
| EBITDA, SEK million | 106 | -346 | 220 | -134 | -494 | |||||
| EBITDA margin, % | 59% | neg | 61% | neg | neg | |||||
| Operating profit, SEK million | 67 | -592 | 139 | -475 | -1,234 | |||||
| Profit for the period, SEK million | -26 | -350 | -74 | -316 | -1,219 | |||||
| Earnings per share after dilution, SEK | -0.23 | -12.89 | -0.66 | -12.97 | -21.54 | |||||
WEBCAST
PA Resources' results for the second quarter of 2014 will be presented on 18 July 2014 at 09:00 am (CET) via a webcast conference call. To participate, please use the link at www.paresources.se or call:
SE: +46 8 505 564 74
UK: +44 203 364 5374
USA:
+1 855 753 2230
An on-demand webcast will be available on PA Resources website, www.paresources.se after the presentation.
DISCLOSURE
The information in this interim report is such that PA
Resources AB is required to disclose pursuant to the Securities Market
Act and Financial Instruments Trading Act. Submitted for publication at
07:30 a.m. (CET) on 18 July 2014.
PA RESOURCES IN BRIEF
PA Resources AB (publ) is an international
oil and gas group that conducts exploration, development and production
of oil and gas assets. The Group operates in Tunisia, the Republic of
Congo (Brazzaville), Equatorial Guinea, the United Kingdom, Denmark, the
Netherlands and Germany. PA Resources is producing oil in West Africa
and North Africa. The parent company is located in Stockholm, Sweden. PA
Resources’ shares are listed on NASDAQ OMX in Stockholm, Sweden. For
further information, please visit www.paresources.se.
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