Business
2018 Audited Results - Amendment
2018 Audited Results - Amendment.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6563X Regal Petroleum PLC 01 May 2019 \n\n1 May 2019\n \n \nREGAL PETROLEUM PLC\n \nThe following amendment has been made to the announcement titled \"2018 Audited Results\" released on 30 April 2019 at 07.00 under RNS number 4613X:\n \nThe Group's cash and cash equivalents at 25 April 2019 are $63.7 million and not $54.2 million as previously stated. As a result, the sixth bullet point under Finance in the Highlights section is now as follows: \n \n\"Cash and cash equivalents held at 31 December 2018 were $53.2 million (31 December 2017: $14.2 million cash and cash equivalents and $16.0 million other short-term investments). The Group's cash and cash equivalents balance at 25 April 2019 was $63.7 million, held as to $24.2 million equivalent in Ukrainian Hryvnia, $30.0 million equivalent predominantly in US Dollars, Euros and Pounds Sterling, and $9.5 million in short-term Ukrainian Government bonds.\" \n \nThe eighteenth paragraph of the Finance Review is also restated in these terms.\n \nAll other details remain unchanged and the full amended text is set out below.\n \n \nREGAL PETROLEUM PLC\n \n2018 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 2018.\n \nHighlights\n \nUkraine Operations\n \n\n\n\n\n· \n\n\nAggregate average daily production from the MEX-GOL, SV and VAS fields over the year to 31 December 2018 of 3,391 boepd, which compares with an aggregate average daily production rate of 2,235 boepd during 2017, an increase of nearly 52%.\n \n\n\n\n\n· \n\n\nAggregate 2018 year end production of approximately 4,377 boepd, compared with approximately 2,811 boepd at 2017 year end, representing an increase of nearly 56% during the year, largely as a result of the significant contributions from the MEX-109 and SV-2 wells, which were operational for the full year, and additional contributions coming on stream during the year from the SV-12 and VAS-10 wells\n \n\n\n\n\n· \n\n\nReserves upgrade at MEX-GOL and SV fields announced in July 2018, approximately quadrupling 2P reserves to 50.0 MMboe, enabling an enhanced development programme...