Information from Q2 2014 Misen Energy AB (publ)
Following is a summary of the financial information given in the Q2 2014 report from Misen Energy AB (publ) published today, 28 August 2014. The complete report is available in both English and Swedish on the company's website: http://misenenergy.se/en/main/investors/reports.
- Daily production has increased by 6.4% compared with June 2013.
- Total production during January – June 2014 has increased by 6.6% compared to the same period 2013.
- Consolidated operating group income has increased by 22% compared to Q2 2013 and consolidated group net turnover remained the same.
- Accumulated earnings per share 17.7% higher than Q2 2013.
January – June 2014 (2013):
- Consolidated group operating income KSEK 174,833 (142,590)
- Consolidated group net turnover KSEK 293,063 (293,194)
- Earnings per share SEK 0.93 (0.79)
During Q2 2014 During Q2 2013
Natural gas (mmcm) 346 324.5
For further information, please contact:
Göran Wolff, MD
Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on NASDAQ OMX First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights of 50.01% of the revenue and profit from a gas production project in Ukraine. Under IFRS rules, this transaction is classified as a reverse takeover. In consideration of the acquisition, a new share issue was carried out.
The gas producing assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement between the wholly-owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine. The value of the assets is estimated to be substantially higher than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program.
The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on First North under identification ticker MISE.
The Certified Adviser of the company at NASDAQ OMX First North is Thenberg & Kinde Fondkommission AB.
For further information please visit our web site www.misenenergy.se.