Adjusted financial information from Misen Energy AB (publ) for the year 2013

The financial information for the year 2013 announced previously through the Q4 2013 report has been adjusted as set out below. 

The changes are inter alia prompted by the revised information on tax costs in Ukraine, which due to the political/ administrative instability in Ukraine, was received after Misen Energy AB (publ) had published its report for Q4 2013.

  •         Earnings per share for 2013 have been adjusted from previously announced SEK 1.65 SEK to SEK 1.43
  •         The Misen Group’s operating income for 2013 has been adjusted from KSEK 286 429 to KSEK 277 122

In addition, all Joint Activity loans have been re-defined from non-current to current liabilities in the balance sheet since Joint Activity, as a result of the problems with the gas balance, has broken its covenants under the financing and leasing agreements.

For further information please contact:

Göran Wolff, MD

Telephone:                +46 31 759 50 72

                                  +46 709 45 48 48  

E-mail:                       goran@misenenergy.se

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 all shares in Misen Enterprises AB and its wholly-owned Ukrainian subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine.
The rights and cooperation relating to the gas production is governed by a Joint Activity Agreement among Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest private producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine.
The purpose of the joint activity 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 Nasdaq OMX 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 website www.misenenergy.se

About Us

Misen Energy AB(publ) (former Svenska CapitalOil AB(publ) ) is a Swedish oil and gas exploration and extraction company with operations in Ukraine. The company was founded in 2004 and the share is since 12 June, 2007, traded on NasdaqOMX First North. In 2011 Misen Energy AB acquired Misen Enterprises AB and its Ukrainian subsidiary, KarpatyGaz, including the rights of 50,01 % of the revenue and profit from a gas production project in Ukraine. As consideration of this acquisition a new share issue was performed.The gas extraction assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement (the “JAA”) between the wholly owned subsidiaries of Misen Energy AB, i.e. Misen Enterprises AB, KarpatyGaz ( together 50.01%) and Ukrgazvydobuvannya,( 49.99%) the largest producer of natural gas in Ukraine and subsidiary of the publicly owned company Naftogaz, Ukraine. The value of the assets is estimated to be substantially more than the purchase price for Misen Enterprises AB.The purpose of the project is to significantly increase production of gas and oil by implementing new technology and a large-scale investment program.The registered office of Misen Energy AB is in Stockholm and the shares are traded on First North under identification MISE. The Certified Adviser of the company at NasdaqOMX First North is Thenberg & Kinde Fondkommision AB. For further information please visit our web site www.capitaloil.se.

Subscribe