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DOME ENERGY PRESENTS INTERIM REPORT FOR JANUARY-JUNE 2020

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FIRST HALF-YEAR

  • Revenue from operations 95 (96) TSEK.
  • Operating income EBIT -4,090 (-4,188) TSEK.
  • Financial result from group companies -77,374 (-42) TSEK.
  • Result for the period -82,290 (-5 045) TSEK.

SIGNIFICANT EVENTS DURING THE FIRST HALF-YEAR

  • Shares in subsidiaries have been written down by SEK 76,785 thousand.
  • Claims on subsidiaries has been written down by SEK 589 thousand.
  • The company's subsidiary Dome Energy Inc has sold Dome AB Inc with assets in the Illinois Basin for $4 million. Dome Energy Inc will also receive a future conditional amount of $3 million if the production of oil in the assets sold stabilizes above 1200 BOPD, and the price of WTI oil stays above $55 per barrel for a certain period of time. This possible additional payment expires on 12/31/2023.
  • Dome Energy Inc has in connection with this settled its debt to the bank of $25.8 million with a substantial discount for $4.5 million. The subsidiary Dome Energy Inc is hereby debt-free.

SUBSEQUENT EVENTS AFTER CLOSING OF THE PERIOD

  • The company has short-term liabilities as of 06/30/2020 of SEK 42,500 thousand including accrued interest, which is due during August. The liability relates to deposits from three of the principal owners Petrus AS, Kvalitena AB (publ), Trention AB (publ) and from Bustein AS. The debt has been under negotiation in recent months and as of 31/08/2020 there is an agreement on an extension until 15/11/2020. Dome continues to work with the principal owners to find the best solution for the owners and Dome Energy.

The report is available at the website of Dome Energy (publ) https://www.domeenergy.com/financial-reports/interim-reports/ and enclosed in this press release.
 

For further information, please contact:

Pål Mørch, 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 August 31, 2020 14.00 CEST.
 

About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North Growth Market in Sweden (Ticker: DOME). Mangold Fondkommission AB, phone: +46 8 503 01 550, CA@mangold.se is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore oil and gas reserves in the United States. For more information visit www.domeenergy.com.

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Dome Dome Energy AB Dome Energy Q2

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