Interim report January-June 2022
January - June 2022
- Total revenue: SEK 30 (30) million
- Operating result: SEK -262 (-6) million
- Operating result excluding write down: SEK -1 (3) million
- Net income: SEK -241 (-8) million
- Net income excluding write down: SEK -1 million (1)
- Earnings per share: SEK -8.1 (-0.3)
Statement from CEO
For the first time since I joined the Company in 2017 I have to tone down my optimism and acknowledge a great uncertainty that our Company is now facing. In spite of a very difficult environment we have managed to make some operational achievements such as successfully completing the seismic program, maintaining the operational efficiency, and reducing the impact of a highly volatile oil market on our cash flow, however, the sanctions war has become a major obstacle to the long-term success, and even survival of Petrosibir.
Although the new seismic report identifies a few promising exploration targets and provides a much better understanding of the fields, substantially reducing the risks of drilling production wells, the EU sanctions have banned any investment in the Russian oil and gas sector, making it impossible for an uncertain period of time to raise any debt or equity financing to unveil the assets potential. This situation does not leave us many options but to divest the assets, if possible, or keep the business alive for as long as possible with the hope the situation improves.
Pavel Tetyakov, CEO
For the complete report, see the attached document
This information was released for publication on 12 September 2022 at 17:00 CET.
For more information, please contact:
Pavel Tetyakov, CEO, +46 8 407 1850
Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibirs 2P oil and gas reserves amount to 33.6 million barrels of oil equivalent or 35.4 million barrels of ABC1+C2 Russian State Balance Reserves (similar to 2P reserves under SPE PRMS standards). The Petrosibir share is traded on the OTC-list at beQuoted starting from 17 February 2016 under the symbol PSIB-BThis is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
Extra bolagsstämman i Petrosibir AB publ ("Bolaget) hölls den 23 november 2022 varvid aktieägarna fattade i huvudsak följande beslut.
Shareholders of Petrosibir AB publ (the "Company") passed the following main resolutions at the extraordinary general meeting held on 23 November 2022.
Aktieägarna i Petrosibir AB (publ) (nedan "bolaget") kallas till extra bolagsstämma, tillika första kontrollstämma, den 23 november 2022 kl. 10.00 på Nybrogatan Business Center, Nybrogatan 34 i Stockholm.
The shareholders of Petrosibir AB (publ) (hereinafter the "Company") are hereby given notice to attend the Extraordinary General Meeting to be held at 10 AM on 23 November 2022 at Nybrogatan Business Center, Nybrogatan 34 in Stockholm.
Styrelsen har i enlighet med 25 kap. 13 § Aktiebolagslagen ("ABL") upprättat en kontrollbalansräkning som granskats av bolagets revisor. Kontrollbalansräkningen visar att bolagets totala tillgångar understiger hälften av det registrerade aktiekapitalet.
The Board has, in accordance with 25 Chap. 13 § of the Swedish Companies Act prepared a balance sheet for liquidation purposes which has been examined by the auditor of the company. The balance sheet reveals that the total equity of the company is less than half of the registered share capital.