DOME ENERGY PRESENTS Q3-REPORT
THIRD QUARTER 2015
- Revenue from oil & gas production incl. realized derivatives of $3,003’ (3,063’).
- Effect from unrealized derivatives of $1,281’ (710’).
- Gross result from production incl. realized hedges of $1,387’ (1,803’) with a margin of 46% (59%).
- EBITDA of $1,961’ (4,061’).
- EBITDA for US operations adj. for unrealized derivatives amounted to $2,022’ (3,916’).
- Net result of -$192’ (3,114’).
- Earnings per share -$0.01 (0.12).
SIGNIFICANT EVENTS DURING THE QUARTER
- Participated in a 7 well drilling program in the DJ Basin through the expected merger with Pedevco.
- Cost cutting program implemented both on Operational and G&A.
- The AGM appointed Petter Hagland as a non-executive member of the Board of Directors.
- OPEX (excl. production taxes and workovers) per barrel of oil equivalent amounted to $19.24 ($13.05).
SUBSEQUENT EVENTS
- The Company continued the merger process with Pedevco and received a term sheet for financing.
FINANCIAL KEY RATIOS
| US$ Thousand | Q3 | Q3 | Q1-Q3 | Q1-Q3 | FY |
| 2015 | 2014 | 2015 | 2014 | 2014 | |
| Revenues from oil and gas sales incl realized derivatives | 3,003 | 3,063 | 9,675 | 4,731 | 9,237 |
| Value change in unrealized derivatives | 1,281 | 710 | 125 | 710 | 7,987 |
| Gross profit from oil & gas operations incl. realized derivatives | 1,387 | 1,803 | 5,760 | 2,761 | 4,840 |
| Gross margin, % | 46% | 59% | 60% | 58% | 52% |
| EBITDA | 1,961 | 4,061 | 1,904 | 3,395 | 11,781 |
| EBITDA for the US oil operation (adj. for unrealized value change of derivatives) | 2,022 | 3,916 | 4,608 | 4,356 | 6,262 |
| EBIT | 1,594 | 3,523 | -2,514 | 2,360 | 6,755 |
| EBT | -192 | 3,114 | -3,015 | 2,412 | 7,066 |
| Net result | -192 | 3,114 | -3,015 | 2,412 | 7,066 |
| EPS (in US$) | -0.01 | 0.12 | -0.09 | 0.11 | 0.31 |
| Production (boepd) | 913 | 1,050 | 1,131 | 448 | 633 |
For further information please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com
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.
Tags: