Key figures Quarter Full year USD million Q1 2015 Q1 2014 2014 2013 Key financials Sales 1) 26.0 112.8 452.0 503.0 Gross profit -35.8 41.8 135.5 294.7 Profit/loss from operating activities -69.2 29.7 -243.2 67.9 Net profit/loss -74.2…
Q1 2015 and year-to-date highlights (continued) Raised NOK 975 million in equity offering initiated on 9 March to strengthen balance sheet ahead of refinancing Equity offering more than three times oversubscribed During 2015, priority…
Net entitlement production Oman Quarter Full year boepd Q1 2015 Q1 2014 2014 2013 Offshore at Block 8, the Bukha and West Bukha fields produced a Kurdistan 22,954 15,810 23,746 12,679 gross average of 11,532 boepd in the first quarter…
Financial review Revenues, profits and cash flow Depreciation, depletion and amortization (DD&A) Sales revenue in the first quarter fell to USD 26.0 million compared to USD 80.1 million in the previous quarter. This was mainly due to…
Acquisition and development costs (including intangible assets) Capital expenditures in the first quarter totaled USD 35.3 million compared to USD 85.4 million in the corresponding period in 2014. Acqusition and development costs…
Consolidated statements of comprehensive income Quarter Full year USD million Note Q1 2015 Q1 2014 2014 Sales 2, 3 26.0 112.8 452.0 Cost of goods sold 4 -61.8 -71.1 -316.5 Gross profit -35.8 41.8 135.5 Other operating income - 0.1…
Condensed consolidated statements of financial position ASSETS Quarter Full year USD million Note Q1 2015 Q1 2014 2014 Non-current assets Deferred income tax assets 7 - 7.7 3.3 Other intangible assets 8 143.8 163.2 150.5 Property,…
Condensed consolidated cash flow statements Quarter Full year USD million Note Q1 2015 Q1 2014 2014 Operating activities Profit/-loss before income tax -73.2 26.2 -251.8 Adjustments to add (deduct) non-cash items: +/- Net interest…
Condensed consolidated statement of changes in equity Share Other Retained Total USD million capital reserves earnings equity Balance at 1 January 2014 33.6 174.7 550.2 758.5 Fair value gains, net of tax: - available-for-sale…
Notes to the interim condensed consolidated financial accounts Note 1 Basis of preparation and accounting policies The condensed consolidated financial statements have been prepared in accordance with International Accounting Standard…
Note 2 Segment information continues Total Three months ended 31 March 2014 Note KUR OMAN YEM UAE TUN OTHER report. Unalloc./ GROUP USD million segm. elimin. Income statement information External sales 3 68.7 28.0 16.1 - - - 112.8 -…
Note 4 Cost of goods sold/inventory Quarter Full year USD million Q1 2015 Q1 2014 2014 Lifting costs* -38.2 -30.7 -117.9 Depreciation, depletion and amortization -23.6 -40.4 -198.5 Total cost of goods sold -61.8 -71.1 -316.5 *L ifting…
Note 7 Income taxes Quarter Full year USD million Q4 2014 Q4 2013 2014 Deferred taxes 1.6 4.8 62.6 Income taxes payable related to Production Sharing Agreements (PSAs) in Yemen and Oman -2.7 -7.3 -36.8 Total income tax expense -1.0 -2.5…
Note 9 Available-for-sale financial assets Available-for-sale financial assets are revalued at fair value (market price, where available) at the end of each period, with changes charged to other comprehensive income. Impairments will be…
Note 10 Interest-bearing liabilities Quarter Full year USD million Q1 2015 Q1 2014 2014 Non-current Convertible loans - - - Bonds 208.7 232.0 214.7 Total non-current interest-bearing liabilities 208.7 232.0 214.7 Current Current…
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