P/F Atlantic Petroleum announced consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported negative revenue of DKK 96,000 against DKK 326,000 a year ago. Operating loss was DKK 14,403,000 against DKK 14,609,000 a year ago. Loss before taxation was DKK 16,891,000 against DKK 10,967,000 a year ago. Loss after taxation was DKK 16,024,000 against DKK 10,861,000 a year ago. Diluted and basic loss per share was DKK 4.33 against DKK 2.94 a year ago. LBITDAX was DKK 9,667,000 against DKK 6,977,000 a year ago. Cash used in operating activities was DKK 10,246,000 against DKK 24,212,000 a year ago.

For the nine months, the company reported revenue of DKK 6,628,000 against DKK 10,430,000 a year ago. Operating loss was DKK 4,291,000 against DKK 8,101,000 a year ago. Loss before taxation was DKK 10,463,000 against profit before taxation of DKK 5,312,000 a year ago. Loss after taxation was DKK 9,596,000 against profit after taxation of DKK 28,194,000 a year ago. Diluted and basic loss per share was DKK 2.29 against basic and diluted earnings per share of DKK 7.62 a year ago. LBITDAX was DKK 33,151,000 against EBITDAX of DKK 5,555,000 a year ago. Net cash used in operating activities was DKK 1,599,000 against DKK 53,838,000 a year ago.

The company expects to show a net profit for the full year 2017.