Dome Energy presents Q3-report 2016

THIRD QUARTER

  • Revenue from oil & gas production $1,235’ (3,003’).
  • Gross result from production $571’ (1,387’) with a margin of 46% (46%).
  • EBITDA of -$124’ (1,961’).
  • EBITDA for US operations amounted to $271’ (680’).
  • Net result of -$987’ (-192’).
  • Earnings per share -$0.03 (-0.01).

FIRST NINE MONTHS

  • Revenue from oil & gas production incl. realized derivatives of $2,332’ (9,675’).
  • Gross result from production incl. realized hedges $233’ (5,760’) with a margin of 10% (60%).
  • EBITDA of -$2,293’ (1,904’).
  • EBITDA for US operations adj. for all derivatives amounted to $232’ (1,243’).
  • Net result of -$7,292’ (-3,015’).
  • Earnings per share -$0.21 (-0.09)

SIGNIFICANT EVENTS DURING THE QUARTER

  • Commitment letter signed for debt refinancing (pressrelease October 7, 2016).
  • Volumes more or less in line with previous quarter but still significantly lower than previous year due to un-economical wells.
  • Signs of stabilization of the oil and gas market continued in third quarter.

SUBSEQUENT EVENTS

  • Negotations with lenders regarding closing of refinancing agreement to be finalised in a near future.
  • Restarted several shut in wells to regain production.

 

FINANCIAL KEY RATIOS

USD Thousand Q3 Q3 Q1-Q3 Q1-Q3 FY
2016 2015 2016 2015 2015
Revenues from oil and gas sales incl realized derivatives 1 235 3 003 2 332 9 675 12 323
Value change in unrealized derivatives – 1 281 – 126 576
Gross profit from oil & gas operations incl. realized derivatives 571 1 387 233 5 760 5 819
Gross margin, % 46% 46% 10% 60% 47%
EBITDA -124 1 961 -2 293 1 904 808
EBITDA for the US oil operation (adj. for all derivatives) 271 680 232 1 243 -704
EBIT -1 277 1 594 -6 269 -2 514 -50 516
EBT -985 -192 -7 310 -3 015 -49 983
Net result -987 -192 -7 292 -3 015 -50 333
EPS (in US$) -0.03 -0.01 -0.21 -0.09 -1.46
Production (boepd) 586 913 595 1 131 1 068

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 30, 2016 08.45 CET.