Maha Energy AB Announces Filing of Second Quarter 2022 Report & Live Webcast privataaffarer.se - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from privataaffarer.se Daily Mail and Mail on Sunday newspapers.
First Quarter 2021
The Company secured a USD 60 million loan financing and USD 10 million equity investment with leading Brazilian investment bank BTG Pactual.
The Tie-3 oil producing well has tested a combined 628 BOEPD, (549 BOPD, 0 BWPD and 470 MSCFPD of gas) from the Itaparica and Agua Grande reservoirs. The Sergi reservoir was not tested at this time.
Daily oil & gas production for Q1 2021 averaged 3,742 BOEPD (Q1 2020: 3,288 BOEPD)
Revenue of USD 15.8 million (Q1 2020: USD 11.2 million)
Operating netback of USD 11.0 million or USD 33.80 per BOE (Q1 2020: USD 7.9 million or USD 27.91 per BOE)
EBITDA of USD 10.2 million (Q1 2020: USD 6.4 million)
Net result of USD 5.5 million (Q1 2020: USD 3.2 million)
Revenue of USD 8.7 million (Q4 2019: USD 13.7 million)
Operating netback of USD 4.2 million or USD 17.66 per BOE (Q4 2019: USD 9.8 million or USD 35.00 per BOE)
EBITDA of USD 2.7 million (Q4 2019: USD 8.4 million)
Net result of USD -15.7 million, following the previously announced impairment charge of 21.0 million for LAK Ranch (Q4 2019: USD 2.7 million)
Basic earnings per share of USD -0.15 (Q4 2019: USD 0.03)
Diluted earnings per share of USD -0.15 (Q4 2019: USD 0.02)
The Company was awarded new exploration block 70 (Mafraq) onshore Oman
Drilled and completed the Tie-2 well in the Tie Field and spudded the Tie-3 well on 18 December 2020
2P Reserve Replacement Ratio for 2020: 380% (Q4 2019: 147%)