Business
2015 Audited Results
2015 Audited Results.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8100Z Regal Petroleum PLC 01 June 2016 \n \n\n1 June 2016\n \nREGAL PETROLEUM PLC\n \n2015 AUDITED RESULTS\n \nRegal Petroleum plc (the \"Company\", and with its subsidiaries, the \"Group\"), the AIM-quoted (RPT) oil and gas exploration and production group, today announces its audited results for the year ended 31 December 2015.\n \nPrincipal Developments\n \nUkraine Operations\n \n\n\n\n\n· Despite ongoing geopolitical events in Ukraine, the Group's production operations have continued relatively normally, although such events have resulted in volatility and weakening of the Ukrainian Hryvnia exchange rates, disruption to the gas sales market and gas sales price, and the imposition of significant increases in subsoil taxes, which in turn, have adversely affected the Group's financial results\n\n\n\n\n\n\n\n\n\n· Average production over the year to 31 December 2015 of 144,783 m3/d of gas, 44 m3/d of condensate and 21 m3/d of LPG (1,274 boepd in aggregate) (2014: 152,744 m3/d of gas, 52 m3/d of condensate and 21 m3/d of LPG (1,370 boepd in aggregate)) \n\n\n\n\n\n\n\n\n\n· During the second half of 2015, the Group purchased 4,723,010 m3 of \"wet\" gas and following treatment of this gas, produced 2,945,021 m3 of gas, 778 m3 of condensate and 5,957 m3 of LPG (49,473 boe in aggregate)\n\n\n\n\n\n\n\n\n\n· Well SV-6 recommenced production in late November 2015 following a successful workover, boosting production levels\n\n\n\n\n \nFinance\n \n\n\n\n\n· Revenue for the year to 31 December 2015 of $23.4 million (2014: $34.6 million) \n\n\n\n\n\n\n\n\n\n· Loss for the year to 31 December 2015 of $1.0 million (2014: $5.8 million profit)\n\n\n\n\n\n\n\n\n\n· Foreign exchange translation loss for the year of $22.4 million (2014: $62.5 million loss) due to devaluation of the Ukrainian Hryvnia against the US Dollar\n\n\n\n\n\n\n\n\n\n· Cash generated from operations during the year of $8.8 million (2014: $19.6 million)\n\n\n\n\n\n\n\n\n\n·&n...