Business
2017 Interim Results
2017 Interim Results.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9609Q Regal Petroleum PLC 18 September 2017 \n\n18 September 2017\n \nREGAL PETROLEUM PLC\n \n2017 INTERIM 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 unaudited results for the six month period ended 30 June 2017.\n \nPrincipal Developments\n \nUkraine Operations\n \n\n\n\n\n· \n\n\nAverage production from the MEX-GOL and SV fields over the six month period to 30 June 2017 was 133,951 m3/d of gas, 35.7 m3/d of condensate and 18.9 m3/d of LPG (1,140 boepd in aggregate) (1H 2016: 167,541 m3/d of gas, 42.4 m3/d of condensate and 19.8 m3/d of LPG (1,395 boepd in aggregate)) \n\n\n\n\n· \n\n\nAverage gas and condensate production from the VAS field for the six month period to 30 June 2017 was 86,770 m3/d of gas and 6.7 m3/d of condensate (612 boepd in aggregate)\n\n\n\n\n· \n\n\nMEX-109 well, utilising improved drilling and completion techniques, put on production in June 2017, and the workover of SV-2 well completed and put on production in August 2017, together nearly doubling production volumes from the MEX-GOL and SV fields\n\n\n\n\n \n \nFinance\n \n\n\n\n\n· \n\n\nRevenue for the six month period to 30 June 2017 of $12.4 million (1H 2016: $10.4 million)\n\n\n\n\n· \n\n\nOperating profit for the six month period to 30 June 2017 of $1.0 million (1H 2016: $0.2 million loss)\n\n\n\n\n· \n\n\nLoss for the six month period to 30 June 2017 of $0.3 million (1H 2016: $0.9 million loss)\n\n\n\n\n· \n\n\nForeign exchange translation gain recorded in equity for the period of $1.6 million (1H 2016: $1.7 million loss) mainly due to appreciation of the Ukrainian Hryvnia against the US Dollar during the period\n\n\n\n\n· \n\n\nCash generated from operations during the period of $5.5 million (1H 2016: $3.8 million)\n\n\n\n\n· \n\n\nAverage realised gas, condensate and LPG prices in Ukraine for the six month period to 30 June 2017 of $226/Mm3 (UAH6,060/Mm3), $59/bbl and $49/bbl respectively (1H 2016: $209/Mm3 (UAH5,315/Mm3) gas, $42/bbl condensate and $29/bbl LPG)\n\n\n\n\n· \n\n\nCash and cash equivalents at 30 June 2017 of $24.5 million (31 December 2016: $20.0 million), with cash and cash equivalents at 15 September 2017 of $27.0 millio...