Operational and financial update from the oil operations
Zhoda Investments ("Zhoda") announces an operational and financial update on the oil operations near Poltava, Ukraine. During the first 10 months of the year, Zhoda's 45 per cent interest in the field production amounted to 71,400 barrels, equivalent to 234 barrels per day. During the same period, the parent company has received dividends from the oil operations amounting to over SEK 8 million.
During the year, the field operator has continued to sell oil with advance payments from the buyer, which strengthens cash flows and lowers the credit risk. Total sales from January to October amounted to SEK 32 (45) million. The decrease compared to the same period last year is due to a drop in the world market oil price by around 13 per cent and a decrease in production by 12 per cent. The parent company has nevertheless managed to receive dividends from the oil operator amounting to SEK 8 million, compared to SEK 1 million during the same period last year.
"We are glad to report that we have been able to collect significantly higher dividends from the oil operator this year, despite the lower world market prices on oil. Oil production is somewhat lower this year compared to last, which is something we will address by securing a more stable access to rig and crews in order to increase the pace in the field work program", says Robert Karlsson, CEO of Zhoda Investments.
Lelyaki is a mature oil field with relatively low geological risk. It is however like all fields subject to natural depletion. To prevent this, the operator is performing a workover program on the well stock. During 2019, the operator has not been able to secure continuous access to rig and crews, which has led to lower production during the first ten months of 2019 compared to the same period last year.
It is a prioritized objective for the company not only to restore the production level to last year's, but also to increase it. A successful workover program will increase both profitability and cash flows.
Zhoda Investments owns through its subsidiary 45 per cent of the license holder and operator of the Lelyaki oil field. All the amounts above relate to Zhoda's 45 per cent working interest in the operator.
For more information, please contact:
Robert Karlsson, CEO Zhoda Investments AB
+46 709 565 141, email@example.com
About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. Zhoda owns Testament Winery, an organic winery in Dalmatia with a 47-hectare state of the art vineyard mainly producing red wine from the local Babi grape. Zhoda is also the owner of Merga Victa, a winery on the Dalmatian island of Korula that produces white premium wines from the indigenous Poip grape. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
Inför dagens årsstämma lämnar Zhoda Investments ("Zhoda") en operativ uppdatering. Världens ekonomier stabiliseras och steg för steg har resande och restaurangnäringen börjat återgå till det normala, vilket ger väsentligt bättre marknadsvillkor för Zhodas verksamheter. Vinverksamheten redovisar en kraftigt ökad försäljning och dagens oljepris på över 70 dollar per fat ger gynnsamma förutsättningar för oljeverksamheten.
Ahead of today's Annual General Meeting, Zhoda Investments ("Zhoda") announces an operational update. The world economy has stabilized and international travel and the restaurant sector are step-by-step returning to levels that existed prior to the pandemic, which results in significantly improved market conditions for Zhoda's operations. The wine operations continue to show strong growth and today's oil price of over 70 dollars per barrel provides a healthy platform for the oil operations.
Zhoda Investments ("Zhoda") publicerar idag årsredovisningen för 2020.
Zhoda Investments ("Zhoda") publishes its annual report for 2020.
Aktieägarna i Zhoda Investments AB (publ), organisationsnummer 559030-3490 (nedan "Bolaget") kallas till årsstämma den 23 juni 2021 kl. 15.00 på Grev Turegatan 18 (Alpcot), 2 tr i Stockholm.
The shareholders of Zhoda Investments AB (publ), corporate identity number 559030-3490 (hereinafter the "Company") are hereby given notice to attend the Annual General Meeting to be held at 15.00 CET on 23 June 2021, at Grev Turegatan 18 (Alpcot), 2nd floor, in Stockholm.
Zhoda Investments ("Zhoda") lämnar en operativ uppdatering från vinverksamheten i kustregionen Dalmatien i Kroatien.
Zhoda Investments ("Zhoda") announces an operational update from the wine operations in the coastal region Dalmatia in Croatia.
Zhoda Investments ("Zhoda") lämnar en operativ uppdatering från oljeverksamheten i Ukraina.
Zhoda Investments ("Zhoda") announces an operational update from the oil operations in Ukraine.
Idag lanseras Testament Winerys första vin på hyllan. När Systembolaget skulle välja ut ett kroatiskt vin att sälja i 123 butiker vann The Dalmatian Dog. Detta är ett viktigt steg för Testament Winery att nå sitt mål - att skapa Kroatiens bästa vin.
Today Testament Winery is launching its first wine at Systembolaget. When the state monopoly selected a Croatian wine to be sold in 123 stores in Sweden, The Dalmatian Dog was chosen. This is an important milestone for Testament in reaching its goal - to create Croatia's best wine.
När världens största vintävling Decanter World Wine Awards nyligen avgjordes blev det storslam för Testament Winery. Ingen kroatisk vingård fick fler medaljer. Detta är ett stort erkännande för bolagets vinmakare och ett viktigt steg i målet att skapa Kroatiens bästa vin.
Testament Winery received more medals than any other Croatian winery when the results from the Decanter World Wine Awards, the world's largest and most influential wine competition, were announced. Judged by the top wine experts from around the globe, this is a huge recognition for the company's winemakers and an important step in reaching the objective of creating Croatia's best wine.
Zhoda Investments ("Zhoda") lämnar en operativ uppdatering avseende vinverksamheten belägen i kustregionen Dalmatien i Kroatien. Pandemin i världen har minskat resandet och inneburit en lägre aktivitet i restaurangnäring. Bolagets har trots detta hittills i år sålt lika många flaskor som för helåret 2019. Det varma vädret med låg nederbörd har inneburit en lägre skörd än tidigare år, men kvaliteten på druvorna är mycket hög och 2020 bedöms kunna ge den bästa årgången i bolagets historia. Att Testaments viner nyligen belönades med flera ädla medaljer i världens största vintävling Decanter är ett fint erkännande för bolagets vinmakare.
Zhoda Investments ("Zhoda") announces an operational update on the wine operations located in the coastal region of Dalmatia in Croatia. The outbreak of the pandemic has led to a decrease in international travel as well as lower activity in the restaurant sector. Despite this the company has managed to sell as many bottles to date in 2020 as for the full year 2019. The warm weather with little rain has led to a lower harvest compared to previous years, but the quality of the grapes is very high and 2020 has the potential to become the best vintage in the company's history. Testament's wines were recently awarded with several gold medals in Decanter, the world's largest wine competition, demonstrating the high level of expertise of the company's winemakers.