DOME ENERGY PRESENTS Q3-REPORT 2015

THIRD QUARTER 2015

    • Revenue from oil & gas production incl. realized derivatives of $3,003’ (3,063’).
    • Effect from unrealized derivatives of $1,281’ (710’).
    • Gross result from production incl. realized hedges of $1,387’ (1,803’) with a margin of 46% (59%).
    • EBITDA of $1,961’ (4,061’).
    • EBITDA for US operations adj. for unrealized derivatives amounted to $2,022’ (3,916’).
    • Net result of -$192’ (3,114’).
    • Earnings per share -$0.01 (0.12).

 

 

SIGNIFICANT EVENTS DURING THE QUARTER

  • Participated in a 7 well drilling program in the DJ Basin through the expected merger with Pedevco.
  • Cost cutting program implemented both on Operational and G&A.
  • The AGM appointed Petter Hagland as a non-executive member of the Board of Directors.
  • OPEX (excl. production taxes and workovers) per barrel of oil equivalent amounted to $19.24 ($13.05).

SUBSEQUENT EVENTS

  • The Company continued the merger process with Pedevco and received a term sheet for financing.

 

FINANCIAL KEY RATIOS

US$ Thousand Q3 Q3 Q1-Q3 Q1-Q3 FY
  2015 2014 2015 2014 2014
Revenues from oil and gas sales incl realized derivatives 3,003 3,063 9,675 4,731 9,237
Value change in unrealized derivatives 1,281 710 125 710 7,987
Gross profit from oil & gas operations incl. realized derivatives 1,387 1,803 5,760 2,761 4,840
Gross margin, % 46% 59% 60% 58% 52%
EBITDA 1,961 4,061 1,904 3,395 11,781
EBITDA for the US oil operation (adj. for unrealized value change of derivatives) 2,022 3,916 4,608 4,356 6,262
EBIT 1,594 3,523 -2,514 2,360 6,755
EBT -192 3,114 -3,015 2,412 7,066
Net result -192 3,114 -3,015 2,412 7,066
EPS (in US$) -0.01 0.12 -0.09 0.11 0.31
Production (boepd) 913 1,050 1,131 448 633