DOME ENERGY PRESENTS Q2-REPORT 2016
SECOND QUARTER
- Revenue from oil & gas production incl. realized derivatives of -$1,206’ (3,090’).
- Effect from unrealized derivatives of $661’ (-1,436’). All derivatives sold in Q2.
- Gross result from production incl. realized hedges of -$1,830’ (2,186’) with a negative margin (71%).
- EBITDA of -$2,015’ (-2,144’).
- EBITDA for US operations adj. for all derivatives amounted to $122’ (-426’).
- Net result of -$3,254’ (-3,293’).
- Earnings per share -$0.09 (-0.10).
FIRST HALF YEAR
- Revenue from oil & gas production incl. realized derivatives of $1,087’ (6,789’).
- Effect from unrealized derivatives of $0’ (-1,190’). All derivates sold in Q2.
- Gross result from production incl. realized hedges of -$349’ (4,455’) with a margin of -32% (66%).
- EBITDA of -$2,184’ (-74’).
- EBITDA for US operations adj. for all derivatives amounted to -$44’ (570’).
- Net result of -$6,340’ (-2,882’).
- Earnings per share -$0.18 (-0.08).
SIGNIFICANT EVENTS DURING THE QUARTER
- Agreement signed for favorable debt refinancing (pressrelease 30 May, 2016).
- Volumes slightly higher in Q2 compared with previous quarter but still significantly lower than previous year due to un-economical wells.
- Signs of stabilization of the oil and gas market in the second quarter.
SUBSEQUENT EVENTS
- Negotations with lenders regarding closing of refinancing agreement to be finalised in a near future.
FINANCIAL KEY RATIOS
| US$ Thousand | Q2 | Q2 | Q1-Q2 | Q1-Q2 | FY |
| 2016 | 2015 | 2016 | 2015 | 2015 | |
| Revenues from oil and gas sales incl realized derivatives | -1,206 | 3,090 | 1,087 | 6,789 | 12,323 |
| Value change in unrealized derivatives | 661 | -1,436 | 0 | -1,190 | 576 |
| Gross profit from oil & gas operations incl. realized derivatives | -1,830 | 2,186 | -349 | 4,455 | 5,819 |
| Gross margin, % | Neg. | 71% | -32% | 66% | 47% |
| EBITDA | -2,015 | -2,144 | -2,184 | -74 | 808 |
| EBITDA for the US oil operation (adj. for all derivatives) | 122 | -426 | -44 | 570 | -704 |
| EBIT | -3,800 | -5,383 | -5,012 | -4,208 | -50,516 |
| EBT | -3,252 | -3,293 | -6,360 | -2,882 | -49,983 |
| Net result | -3,254 | -3,293 | -6,340 | -2,882 | -50,333 |
| EPS (in US$) | -0.09 | -0.10 | -0.18 | -0.08 | -1.46 |
| Production (boepd) | 665 | 1,248 | 600 | 1,243 | 1,068 |
For further information please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com
This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person 31 August, 2016 08.45 CET.
Domes certified adviser is Mangold Fondkommission AB tel +46 8 503 01 550
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq OMX First North exchange in Sweden (Ticker: DOME). Mangold Fondkommission AB is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.
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