Petrosibir AB Announces Unaudited Group and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Operating Results for the Second Quarter and Six Months Ended June 30, 2016
For the six months, the group reported total revenue of SEK 11,341,000 against SEK 15,291,000 a year ago. Operating loss was SEK 9,940,000 against SEK 120,000 a year ago. Loss before tax was SEK 3,458,000 against SEK 70,000 a year ago. Loss for the period was SEK 3,446,000 against SEK 58,000 a year ago. Loss for the period, total for the Group was SEK 3,446,000 against profit of SEK 3,493,000 a year ago. Loss per share from continuing operations was SEK 0.12. Cash flows used in operating activities was SEK 6,689,000 against SEK 1,593,000 a year ago. Investment in oil and gas assets was SEK 829,000 against SEK 3,584,000 a year ago.
For the quarter, the parent company reported revenue of SEK 728,000 against SEK 135,000 a year ago. Operating loss was SEK 2,424,000 against SEK 2,017,000 a year ago. Loss before tax was SEK 1,601,000 against SEK 979,000 a year ago. Loss for the period was SEK 1,601,000 against SEK 979,000 a year ago.
For the six months, the parent company reported revenue of SEK 1,306,000 against SEK 270,000 a year ago. Operating loss was SEK 6,599,000 against SEK 4,061,000 a year ago. Loss before tax was SEK 6,598,000 against profit of SEK 990,000 a year ago. Loss for the period was SEK 6,598,000 against profit of SEK 990,000 a year ago.
For the quarter, the company reported oil production of 126,260 barrels against 41,210 barrels a year ago.
For the six months, the company reported oil production of 248,720 barrels against 82,170 barrels a year ago.