Matra Petroleum AB Announces Unaudited Consolidated Earnings and Operating Results Parent Company Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
For the six months, on consolidate basis, the company reported revenue was USD 4,964,000 against USD 4,576,000 a year ago. Negative EBITDA was USD 125,000 against EBITDA of USD 531,000 a year ago. Operating loss was USD 1,087,000 against USD 91,000 a year ago. Loss for the period attributable to shareholders of the parent was USD 4,873,000 against USD 3,220,000 a year ago. Loss per basic and diluted share was 0.12 cents against 0.08 cents a year ago. Loss before tax was USD 4,873,000 against USD 3,220,000 a year ago. Total cash inflows from operating activities were USD 19,000 against USD 1,749,000 a year ago. Oil and gas properties acquisition was USD 6,200,000. Investment in oil and gas properties was USD 1,345,000 against USD 4,225,000 a year ago. The decrease in Operating result and EBITDA was explained mainly by realised and unrealised losses on
derivatives for hedging purposes in the six months ended 30 June 2018 as compared to gains on derivatives in the six months ended 30 June 2017.
For the quarter, on parent basis, the company reported revenue of USD 399,000. Negative ebitda was USD 88,000 against ebitda of USD 117,000 a year ago. Operating loss was USD 736,000 against USD 3,183,000 a year ago. Net loss for the period was USD 736,000 against USD 3,183,000 a year ago.
For the six months, on parent basis, the company reported revenue of USD 585,000. Negative ebitda was USD 125,000 against ebitda of USD 531,000 a year ago. Operating loss was USD 1,690,000 against USD 3,559,000 a year ago. Net loss for the period was USD 1,690,000 against USD 3,559,000 a year ago.
For the quarter, the company reported net crude oil production of 26,405 bbl against 26,885 bbl a year ago. Net gas and natural liquids production was 133,764 mcf against 125,625 mcf a year ago.
For the six months, the company reported net crude oil production of 49,780 bbl against 51,419 bbl a year ago. Net gas and natural liquids production was 243,954 mcf against 255,772 mcf a year ago.