- Revenue from oil & gas production incl. realized derivates of $2,242’ (3,637’).
- Effect from unrealized derivatives of -$641’ (280’).
- Gross result from production incl. realized derivates of $735’ (2,224’) with a margin of 33% (61%).
- EBITDA of -$172’ (2,126’).
- EBITDA for US operations adj. for unrealized derivates amounted to $1,279’ (2,137’).
- Net result of -$2,574’ (489’).
- Earnings per share -$0.07’ (0.01).
SIGNIFICANT EVENTS DURING THE QUARTER
- Refinancing-prepare and negotiate with company lenders.
- Volumes significantly down compared with previous year due to un-economical wells.
- Drilling programs, recompletions and workovers on hold due to re-financing negotiations.
- Continued implementation and pursuing of cost cutting program on both operational and G&A in Q1.
SIGNIFICANT EVENTS AFTER CLOSING THE QUARTER
Dome Energy Executes Agreement for Significant Favorable Debt Refinancing (pressrelease 30 May,2016):
- Reduction of total debt from approx. $55,000,000 to <$24,000,000.
- Dome Energy Inc. will monetize its current hedge portfolio for $4,100,000.
- Dome Energy AB, has agreed with Range Ventures LLC in principle, on a conversation of the Note payable to shares at a prices of 1 USD per share. The proposal is subject to shareholder approval at the next shareholder meeting on June 21, 2016.
|FINANCIAL KEY RATIOS|
|Revenues from oil and gas sales incl. realized derivatives||2,242||3,637||12,323|
|Value change in unrealized derivatives||-641||280||1,041|
|Gross profit from oil & gas operations incl. realized derivatives||735||2,224||5,353|
|Gross margin, %||33%||61%||47%|
|EPS (in US$)||-0.07||0.01||-1.46|