Business
Results for the Period Ending December 31, 2018
Results for the Period Ending December 31, 2018.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6010W Jadestone Energy Inc. 18 April 2019 \n\nJadestone Energy Inc.\n \nJadestone Energy Results for the Period Ending December 31, 2018\nRecord Quarterly Revenue and Cash from Operations\n \nApril 18, 2019-Singapore: Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) (\"Jadestone\" or the \"Company\"), an independent oil and gas production company focused on the Asia Pacific region, reported today its consolidated audited financial statements (the \"Financial Statements\"), as at and for the twelve-month period ended December 31, 2018.\n \nFrom January 1, 2018, the Company has moved to reporting its financial information from a March year end, to a calendar year end. For that reason, comparative financial information is provided for the nine-month period ended December 31, 2017.\n \nThe acquisition of the Montara Assets was completed on September 28, 2018, at which time Jadestone obtained control and 100% legal ownership, apart from interest in the associated licenses which remains subject to regulatory approval. For accounting purposes, Montara's results are reported in Jadestone's Financial Statements from September 28, 2018.\n \nFinancial highlights\n \n● Net revenue during the fourth quarter was US$45.0 million, a record for the Company, an increase of 38% over the prior quarter, and more than double the revenue in the same quarter a year ago;\n \n● Full year revenue was US$113.4 million, also a record for the Company, an increase of 64% over the annualised result for the nine-month period to December 31, 2017;\n \n● Positive net cash generated from operations of US$32.5 million in the fourth quarter, a record for the Company and an increase from a US$12.2 million net use of funds in the prior quarter, and US$0.6 million for the same quarter a year ago;\n \n● Full year positive net cash generated from operations of US$17.8 million, also a record for the Company, and compares to a US$6.6 million use of funds in the nine-month period to December 31, 2017; \n \n● Total comprehensive income for the fourth quarter was US$28.9 million, a record for the Company, an increase of US$30.4 million on the prior quarter, and compares to US$0.8 ...