Paul Morch, CEO: “During the month of October we sold contracts for 76,000 barrels of oil at ~$71 per barrel, with delivery through 2019. The recent unforeseen drop in oil prices have given us an opportunity for short term profits, and we decided to sell these hedges now. The profit will affect our fourth quarter numbers. Gas prices have increased almost 50% recently to levels not seen in a long time. We have added hedges to secure parts of our sales at these levels through the month of March 2019.”
For further information, please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: [email protected]
This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person November 16, 2018, 14:00 CET.
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME (http://www.nasdaq.com/symbol/els/dome)). Mangold Fondkommission AB, phone: +46 8 503 01 550, 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.