Interim report January - June 2020
January - June 2020
- Total revenue: SEK 20 (28) million
- Operating result: SEK 0 (2) million
- Impairment of Ripiano SEK -31 million (0)
- Net income: SEK -30 (2) million
- Earnings per share: SEK -1.01 (0.07)
Statement from CEO
The first half of 2020 was definitely the most difficult time for many years. Nevertheless, I am pleased to announce that in spite of some hits Petrosibir has survived, is stable and set for development. I am glad to inform you that none of the employees of the group have so far tested positive for COVID-19 and we are continuing to monitor the situation.
As you all know, the drop in oil prices in March 2020 badly hit oil companies around the globe and Petrosibir was not an exception. At a point in time in April the prices were 3-7 times lower than in February. In spite of such severe conditions we managed to minimise losses by optimising oil sales and cutting costs where possible, and as a result finished the first half 2020 with a slightly positive operating result.
Unfortunately, the situation on the oil market affected the completion of negotiations on the potential sale of some of our assets, and our current focus is 100% on operations. At the same time, we have managed to come to a preliminary agreement with a potential investor to jointly explore and develop the Suyanovskoye licence in Bashkiria, a very promising exploration block adjacent to our producing asset. Once the deal is completed the new JV will launch an exploration drilling campaign targeting the two best prospects. This could potentially become a new stage in the life of Petrosibir.
Pavel Tetyakov, CEO
For the complete Report, see attached document.
This information was released for publication on 28 August 2020 at 14:00 CET.
For more information, please contact:
Pavel Tetyakov, CEO, +46 8 407 1850
Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585
Swedish corporate identity number: 556468-1491
P.O. Box 5216
SE-102 45 Stockholm
Nybrogatan Business Center
Nybrogatan 34, 1st floor
Tel: +46 8 407 18 50
Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. Petrosibir's Ukrainian operations have been distributed to its shareholders. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibir's 2P oil and gas reserves amount to 35 million barrels of oil equivalent. Petrosibir shares are traded on the OTC-list at beQuoted under the symbol PSIB-B.
- Totala intäkter: 39 (58) mkr
- Rörelseresultat: -1 (4) mkr
- Nedskrivning Ripiano -55 (0) mkr
- Årets resultat -55 (4) mkr
- Resultat per aktie -1,86 (0,14) kr
- Intäkter: 19 (30) mkr
- Rörelseresultat: -1 (2) mkr
- Nedskrivning Ripiano -24 (0) mkr
- Periodens resultat -25 (2) mkr
- Resultat per aktie -0,85 (0,07) kr
January - December 2020
- Total revenue: SEK 39 (58) million
- Operating result: SEK -1 (4) million
- Impairment Ripiano -55 (0) million
- Net income SEK -55 (4) million
- Earnings per share: SEK -1.86 (0.14)
July - December 2020
- Revenue: SEK 19 (30) million
- Operating result: SEK -1 (2) million
- Impairment Ripiano -24 (0) million
- Net income SEK -25 (2) million
- Earnings per share: SEK -0.85 (0.07)
Petrosibirs sammanlagda oljeproduktion under januari 2021 uppgick till 32 375, motsvarande 1 044 fat per dag.
Petrosibir's total oil production during January 2021 amounted to 32,375 barrels, equivalent to 1,044 barrels per day.
Petrosibirs sammanlagda oljeproduktion under december 2020 uppgick till 33 388, motsvarande 1 077 fat per dag.
Petrosibir's total oil production during December 2020 amounted to 33,388 barrels, equivalent to 1,077 barrels per day.
Petrosibirs sammanlagda oljeproduktion under november 2020 uppgick till 31 659, motsvarande 1 055 fat per dag.
Petrosibir's total oil production during November 2020 amounted to 31,659 barrels, equivalent to 1,055 barrels per day.
Petrosibirs sammanlagda oljeproduktion under oktober 2020 uppgick till 31 854, motsvarande 1 028 fat per dag.
Petrosibir's total oil production during October 2020 amounted to 31,854 barrels, equivalent to 1,028 barrels per day.
Petrosibir offentliggör härmed att ett avtal har träffats om borrning av två prospekteringsbrunnar på Suyanovskoye-licensen i Basjkirien. Borrningarna kommer finansieras av en partner mot en ägarandel motsvarande 49% i licensen.
Petrosibir is pleased to announce that it has entered into an agreement to drill two exploration wells on the Suyanovskoye licence block in Bashkiria. The drilling of these wells will be financed by the partner in exchange for a 49% interest in the licence block.
Petrosibirs sammanlagda oljeproduktion under september 2020 uppgick till 31 866, motsvarande 1 062 fat per dag.
Petrosibir's total oil production during September 2020 amounted to 31,866 barrels, equivalent to 1,062 barrels per day.
Petrosibirs sammanlagda oljeproduktion under augusti 2020 uppgick till 32 699, motsvarande 1 055 fat per dag.
Petrosibir's total oil production during August 2020 amounted to 32,699 barrels, equivalent to 1,055 barrels per day.