English

Information from Q4 2014 Misen Energy AB (publ)

Report this content

Following is a summary of the financial information given in the Q4 2014 report from Misen Energy AB (publ) published today. The complete report is available in both English and Swedish on the company's web-site: http://misenenergy.se/repository/Financial_reports_ENG/Misen_Energy_Q4_2014_ENG.pdf

  • Daily production has decreased14% compared with December 2013
  • Total production has decreased 2% compared to December 2013 (full year)
  • Turnover has increased 86% compared to December 2013 (full year)
  • Accumulated earnings per share 57% higher than 2013 (full year)
  • Problems with not being accepted in the gas balance have been resolved and all of accumulated gas inventory has been sold
  • Increase of subsoil use charge from 28% to 55% negatively affect implementation of the JA investment program
  • Changes at the Board of Directors with Dr. Andrius Smaliukas elected as the new Chairman
  • No dividend is proposed for 2014
     

 October – December 2014 (2013*)

  • Consolidated group operating income KSEK 160,618 (KSEK -19,626)
  • Consolidated group net turnover KSEK 375,926 (KSEK 22,687)
  • Earnings per share SEK 0.68 (SEK -0.16)

 *Please note the numbers for Q4 2013 have been corrected as per the finalized data of the Annual Report 2013.
 

January – December 2014 (2013)

  • Consolidated group operating income KSEK 550,418 (KSEK 277,122)
  • Consolidated group net turnover KSEK 1,160,427 (KSEK 623,575)
  • Earnings per share SEK 2.25 (SEK 1.43)
     

Accumulated production
                                       Under 2014       Under 2013
Natural Gas (mmcm)*             672                   684
*million cubic meters

  

For further information, please contact:

Göran Wolff, MD

Direct line:  +46 31 759 50 72
Mobile:       +46 709 45 48 48
E-mail:        goran@misenenergy.se
                  info@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 Stockholm First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights to 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 Stockholm First North is Consensus Asset Management AB (formerly Thenberg & Kinde Fondkommission AB).
For further information, please visit our website www.misenenergy.se.

Subscribe