Stock Quote: NKO | TSX: $0.29   -0.04

Oct 30, 2014 @ 15:55 ET

Focused on value generation in the D6 Block in India while maintaining optionality to benefit from exploration potential in its portfolio.

Key Indicators

Financial

Financial Highlights

 

 

 

Three Months ended June 30,

(US$000’s except as indicated)

2014

2013

Change

Oil and natural gas revenue(1)

35,161

28,042

25%

EBITDAX  25,852  19,567  32%

Funds from operations(2) (See note 1)

8,934

15,210

-41%

Funds from operations per share(2)

0.10

0.22

-55%

Net Income (loss)

(54,943)

(59,170)

-7%

Net Income (loss) per/share (basic)

(0.59)

    (0.84)

-30%

Weighted average shares outstanding (basic)

92,484,431

70,215,911

 32%

 
Note 1:
EBITDAX to Funds from Operations Reconciliation

 

 

 

 EBITDAX

25,852 

19,567 

 

 Interest expense

 (15,492)

 (4,353)

 

 Restructuring costs

 (1,404)

 

Current income expense

 (22)

 (4)

 

 Funds from operations(2)

8,934 

15,210 

 

(1) Oil and natural gas revenue is net of royalty expense and the government's share of profit petroleum.

(2) Funds from operations and funds from operations per share are non-IFRS measures.  Funds from operations is calculated as the cashflows from operating activities prior to the change in operating non-cash working capital, the change in long-term accounts receivable and exploration and evaluation costs expensed to the statement of comprehensive income.

 

Operations

Three Months ended June 30,

2014

2013

   %      

Gas production (Mcf/d)

112,520

 104,722

 7%

Oil production (Bbl/d)

905

911

 -1%

 Combined basis (Mcfe/d)(1)

117,950

 110,185

 7%

Oil & gas price ($/Mcfe)(1)

3.28

 2.80

   17%

 

 

 

 

(1) Mcfe is derived by converting oil and condensate to natural gas in the ratio of 1 bbl:6 Mcf.

(2) Operating cash flow and operating netback are non-IFRS measures.  Operating cash flow is calculated as oil and natural gas revenues less royalties, profit petroleum and cash-portion of operating expense.

 

Expenditures

Expenditures

(US$000’s)

 Three Months ended June 30,

2014

2013

 

Exploration                               

14,408

31,085

 

Development

5,479

5,767

 

Total

19,887

36,852

 

 

 

Reserves

Gross Reserves

2014 2013 %

Proved

 

   

 Crude Oil and NGL (Mbbl)

1,480

1,499

-1%

 Natural Gas (MMcf)

575,307

554,774

4%

Total Proved (MMcfe)

584,187

563,768

4%

Total Probable (MMcfe)

242,166

257,441

-6%

Total Proved plus probable (MMcfe)

814,360

821,209

-1%

Government Payments

FOR THE YEAR ENDED 31 MARCH 2014

Currency: USD'000

Type of Payment National Government Local Government Total
Royalties 2,928 131 3,059
Bonus Payments - - -
License Payments and fees 90 - 90
(Other than routine nominal administrative fees)
Profit Petroleum 19,497 - 19,497
Income Tax 642 - 642
Other fiscal benefits to government
- Sales Tax / VAT 752 1,322 2,074
- Service Tax 86 - 86
- Others 38 50  88
Total 24,032 1,502 25,536

Shares

Share Information

As at August 13, 2014

 

Shares outstanding

94,019,172

Options outstanding

3,374,904

Market capitalization

181 Million

Indices

S&P/TSX Composite, S&P/TSX Capped Energy