Dome Energy AB provides financial update on Dome Energy Inc. Q1 2017
Dome Energy AB. (herein after “Dome” and/or “the Company”) provides financial update on Dome Energy Inc. for Q1 2017 showing production increase of 94% and revenues up 74% compared to Q4 2016.
- Sales Oli & Gas: TUSD 2,125, which is up 74% from 1,222 in Q4 2016
- Operating expenses: TUSD 1,230 (normalized 880)
- G&A: TUSD 497
- EBITDA: TUSD 398, up from negative -1,680 in Q4 2016
- BOEPD: net 875, which is up from 451 in Q4 2016
Numbers are unaudited and unconsolidated by Dome Energy AB.
Paul Morch, CEO: “We are proud to announce our operating results of our US subsidiary group Dome Energy Inc. We are clearly proving that we have been able to turn around the negative trend from the previous two years, and create good returns on our investments. We show an EBITDA of TUSD 398, normalized at TUSD 748 if we exclude the one-off expenses to restart production, which is in line with our expectations. Production was up from 451 BOEPD in Q4 2016 to 875 BOEPD in Q1 2017, which means that we have reached our short term target of more than gross 1,000 BOEPD.”
For further information, please contact:
Phone: +1 713 385 4104
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 June 12, 2017, 8:30 CET.
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME). Mangold Fondkommission AB, phone: +46 8 503 01 550, 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.