Stock Quote: NKO | TSX: $0.39   0.08

May 22, 2015 @ 15:59 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 December 31,

(US$000’s except as indicated)

2014

2013

Change

Oil and natural gas revenue(1)

29,009

33,349

-13%

EBITDAX  18,914  23,830  -21%

Funds from operations(2) (See note 1)

2,213

5,719

-61%

Funds from operations per share(2)

0.02

0.08

-70%

Net Income (loss)

(143,532)

(448,177)

-68%

Net Income (loss) per/share (basic)

(1.53)

    (6.17)

-75%

Weighted average shares outstanding (basic)

94,019,172

72,612,338

 29%

 
Note 1:
EBITDAX to Funds from Operations Reconciliation

 

 

 

 EBITDAX

18,914

23,830

 

 Interest expense

 (14,227)

 (10,135)

 

 Restructuring costs

 (2,473)

(7,982)

 

Current income expense

 (1)

 7

 

 Funds from operations(2)

2,213 

5,719

 

(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 December 31,

2014

2013

   %      

Gas production (Mcf/d)

105,245

 105,869

 -1%

Oil production (Bbl/d)

793

759

 4%

 Combined basis (Mcfe/d)(1)

110,002

 110,421

 0%

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

2.87

 3.28

   -13%

 

 

 

 

(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)

 Nine Months ended December 31,

2014

2013

 

Exploration                               

31,786

168,085

 

Development

21,866

27,292

 

Total

53,652

195,377

 

 

 

Reserves

Gross Reserves

March 31, 2014 March 31, 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 February 13, 2015

 

Shares outstanding

94,019,172

Options outstanding

2,245,949

Market capitalization

42,308,627

Indices

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