Year-end report January - December 2019
January - December 2019
- Total revenue: SEK 58 (63) million
- Operating result: SEK 4 (2) million
- Net income SEK 4 (7) million
- Earnings per share: SEK 0.14 (0.23)
July - December 2019
- Revenue: SEK 30 (31) million
- Operating result: SEK 2 (-3) million
- Net income SEK 2 (-4) million
- Earnings per share: SEK 0.07 (-0.13)
Statement from CEO
Dear Shareholders,
I am pleased to announce the year-end results for 2019.
In spite of worse market conditions, i.e. lower oil prices, and natural production decline in Bashkiria we have further improved the operating margin and increased our cash reserves. We put the new Ayskoye oil field into pilot production, which demonstrated future development potential. Our oil trading activity has almost tripled in size and added to the successful year.
We also continued testing the market for a potential sale and in spite of the lengthy process have made some encouraging progress. At the same time we continue evaluating further exploration and development opportunities within our assets portfolio.
Pavel Tetyakov, CEO
Upcoming financial reporting
Annual report 2019, April 2020
Annual General Meeting 2020, 28 May 2020
This information was released for publication on 28 February 2020.
For the complete Report, see attached document.
For more information, please contact:
Pavel Tetyakov, CEO, +46 8 407 1850
Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585
www.petrosibir.com
About Petrosibir
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. The Petrosibir share is traded on the OTC-list at beQuoted starting from 17 February 2016 under the symbol PSIB-B.
Om Petrosibir
Petrosibir är ett svenskt bolag med inriktning på prospektering och utvinning av olja och gas i Ryssland.
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