Quarter January 1 – march 31, 2017
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Revenues amounted to USD 2 664, an increase of 170% compared to Q1 2016
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Cash flow from operations amounted to USD 626, compared with USD -1 030 in Q1 2016
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EBITDA amounted to USD 419, compared with USD -546 in Q1 2016
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The result before tax amounted to TUSD -1 303, compared with USD -2 290 in Q1 2016
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Net income amounted to TUSD -1 303, compared with -2 290 in Q1 2016
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Earnings per share amounted to USD loss: 0.04 per share, compared with USD -0,07 per share in Q1 2016
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New issues raised USD 5 701 (before issue costs), of which TUSD 277 was obtained in april 2017
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The production of oil and gas, gross, amounted to sek 654 barrels of oil equivalent per day, up 30% compared to Q1 2016
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3 oil and gasproduktionsbrunnar were drilled during the first quarter of
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The increased pace of the drilling program during the second quarter
Events after the reporting period
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Matra Petroleum ab (publ) shares are listed on NASDAQ First North in Stockholm the 20th of april 2017
Dear shareholders,
It is with pleasure that I present Matra Petroleum ab (publ) first quarterly report as a listed company.
For the first quarter of 2017 reports Matra significant financial and operational improvements, compared with the first quarter of 2016, mainly as a result of higher production and higher oil and gas prices.
During the quarter, drilled and completed the Matra three new wells that have successfully tested and recently put into production. The new wells are producing significantly higher volumes than the current average, and the plan is to replace the production from lågproducerande wells with production from new, more productive wells.
The company has adapted to the recent years of challenging markets by increasing efficiency in operations and investment, eliminate uneconomic production and secure funding for an active drilling program. The company’s loan portfolio has been restructured in order to secure long-term financing for the coming years and new issues have been implemented to strengthen the balance sheet and fund investments.
Matras asset portfolio has been evaluated thoroughly and selected drilling was carried out to obtain valuable knowledge about the field and to optimise future drilling operations. During this process, we have identified 466 potential drilling sites. Oil and gas reserves are conventional, the wells are shallow and can be drilled quickly, with attractive returns at current oil prices. In addition, the Matra around 200 dormant wells, which may be cancelled in production.
An active drilling program has been initiated to increase production from existing assets up to 6 000 barrels of oil equivalent per day in the next few years and a long-term improve the financial development. The listing on Nasdaq First North, and improved access to capital markets makes the Matra is well-positioned to grow organically and through selective acquisitions.
23 may 2017
Maxim Barskiy
Executive director
For further information, please contact the
Maxim Barskiy, CEO of Matra Petroleum AB
Tel: +46 (0)8 611 4995
Investor Relations
E-mail: ir@matrapetroleum.com
Web: www.matrapetroleum.com
Certified Adviser
Mangold Fondkommission AB is the Certified Adviser.
Telephone: +46 (0) 85 03 01 550
E-mail: info@mangold.se
Matra Petroleum AB (publ) | Eriksbergsgatan 10 | Box 7292 | 115 22 Stockholm
Telephone: +46 (0)8-611 4995 | web: www.matrapetroleum.com | Email: ir@matrapetroleum.com
This information is such information that Matra Petroleum AB (publ) is obliged to publish under the EU marknadsmissbruksförordning 596/2014. The information was submitted, by the above contact person in the government, for publication on may 23, 2017 there is a 07:45 CET.
Matra Petroleum AB is an independent oil and gas company focused on exploration and production in the united states. The company owns, through a wholly owned subsidiary of Matra Petroleum Inc. 136 the oil and gasrättigheter which covers an area of 15 700 ha (38 800 acres) in the Panhandle region of Texas. Matra Petroleum’s shares are traded on NASDAQ First North in Sweden under the tickerkod MATRA.
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