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Atlantic Petroleum achieves significant milestones in 2013


Published Mar 17, 2014
Atlantic Petroleum-2

Atlantic Petroleum announces its results for 2013. This company announcement should be read in conjunction with the Group's Annual and Consolidated Report and Accounts 2013 and the extract from the independent reserves report also attached to this announcement.

FINANCIAL RESULTS & SIGNIFICANT ACHIEVEMENTS IN 2013

◾ Production 720K boe ◾ EBITDAX DKK 224MM ◾ Net result after taxation loss of DKK 26MM ◾ Operating cash flow DKK 219MM from a realised oil price of USD 109.2 per barrel ◾ Total equity shareholders' funds at year end DKK 597MM ◾ Cash and cash equivalents at year end DKK 185MM ◾ Successfully completed acquisition of 25% working interest in UK licences P1606 and P1607 containing the development assets Orlando and Kells. ◾ Successful in UK 27th Licensing Round - awarded 12 blocks in 4 licences bringing the total number of 27th Licencing Round blocks up to 23 in 8 licences ◾ Successful in Norwegian 22nd Licensing Round - awarded 6 blocks in 2 licences

Tags: Atlantic Petroleum




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