ABN 73 110 184 355 HALF YEAR FINANCIAL REPORT 31 December 2014
GALICIA ENERGY CORPORATION LIMITED TABLE OF CONTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 Corporate Directory 3 Directors Report 4 Auditors Independence Declaration 8 Condensed Consolidated Statement of Comprehensive Income…
GALICIA ENERGY CORPORATION LIMITED DIRECTORS REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2014 Directors & Officers Bankers Douglas Jendry Managing Director Westpac Private Bank Peter Wall Non-Executive Chairman Level 13, 109 St Georges…
GALICIA ENERGY CORPORATION LIMITED DIRECTORS REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2014 REVIEW OF OPERATIONS (CONTINUED) Polskie Grnictwo Naftowe i Gazownictwo (PGNiG), which is the largest oil & gas exploration and production…
GALICIA ENERGY CORPORATION LIMITED DIRECTORS REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2014 REVIEW OF OPERATIONS (CONTINUED) The Company completed a Placement in June 2014 which, due to a high level of oversubscriptions, was issued in…
GALICIA ENERGY CORPORATION LIMITED DIRECTORS REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2014 SIGNIFICANT EVENTS AFTER BALANCE DATE (CONTINUED) The decision to sell or withdraw from the Poland assets has been driven by the delay in the…
Pitcher Partners is an association of Independent firms Melbourne Sydney Perth Adelaide Brisbane Newcastle AUDITOR'S INDEPENDENCE DECLARATION To the Directors of Galicia Energy Corporation Limited and its controlled entities In…
GALICIA ENERGY CORPORATION LIMITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF YEAR ENDED 31 DECEMBER 2014 Notes 31-Dec-14 31-Dec-13 Revenue from continuing operations 15,171 159,441 Employee benefits…
GALICIA ENERGY CORPORATION LIMITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2014 Notes 31-Dec-14 30-Jun-14 Current Assets Cash & cash equivalents 858,138 3,037,288 Trade & other receivables 427,985…
GALICIA ENERGY CORPORATION LIMITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF YEAR ENDED 31 DECEMBER 2014 Option Equity-based Foreign Currency Contributed Premium Payment Translation Accumulated Equity Reserve…
GALICIA ENERGY CORPORATION LIMITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 31-Dec-14 31-Dec-13 Cash flows used in operating activities Payment to suppliers & employees (1,053,223)…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 2. BASIS OF PREPARATION AND ACCOUNTING POLICIES (CONTINUED) Any new, revised or amending Accounting…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 BASIS OF PREPARATION AND ACCOUNTING POLICIES (CONTINUED) exploration and evaluation activities in…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 BASIS OF PREPARATION AND ACCOUNTING POLICIES (CONTINUED) other comprehensive income. When a foreign…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 4. EXPLORATION & EVALUATION COSTS 31-Dec-14 30-Jun-14 Carrying amount of exploration and evaluation…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 RESERVES (CONTINUED) 31-Dec-14 Movement Reconciliation Equity-based payment reserve Balance at the…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 RESERVES (CONTINUED) the Company circumstances and goals. The Performance Rights are used as part of…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 RESERVES (CONTINUED) (b) Recognised equity-based payment expense The total expense recognised for Key…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 8. COMMITMENTS During the period Galicia, under the terms of the SPA with Iskander for the acquisition…
GALICIA ENERGY CORPORATION LIMITED NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMTENTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014 12. EVENTS AFTER BALANCE SHEET DATE On 28 January 2015, the Company announced a pro-rata renounceable…
GALICIA ENERGY CORPORATION LIMITED DIRECTORS DECLARATION FOR THE HALF YEAR ENDED 31 DECEMBER 2014 DIRECTORS DECLARATION The Directors declare that: (a) The consolidated financial statements and notes of the Group set out on pages 9…
Pitcher Partners is an association of Independent firms Melbourne Sydney Perth Adelaide Brisbane Newcastle INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF GALICIA ENERGY CORPORATION LIMITED AND ITS CONTROLLED ENTITIES We…
INDEPENDENT AUDITOR'S REVIEW REPORT TO THE MEMBERS OF GALICIA ENERGY CORPORATION LIMITED AND ITS CONTROLLED ENTITIES Conclusion Based on our review, which is not an audit, we have not become aware of any matter that makes us believe…