Stock Quote: NKO | TSX: $1.91   -0.07

Aug 1, 2014 @ 09:30 ET

Creating value through the successful exploration and development of high impact plays.

Key Indicators

Financial

Financial Highlights

 

 

 

Three Months ended March 31

(US$000’s except as indicated)

2014

2013

Change

Oil and natural gas revenue (1)

31,623

39,670

-20%

Funds from operations (2)

3,135

29,748

-89%

Funds from operations per share (2)

0.10

0.42

-76%

Net Income (loss)

(1,116)

(2,053)

-46%

Net Income (loss) per/share (basic)

(0.01)

    (0.03)

-59%

Weighted average shares outstanding (basic)

90,180,601

70,215,911

 28%

 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 March 31

2014

2013

   %      

Gas production (Mcf/d)

115,628

 120,443

 -4%

 Oil production (Bbl/d)

954

1,008

 -5%

 Combined basis (Mcfe/d)(1)

121,352

 126,489

 -4%

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

2.90

 2.98

   -3%

Operating cash flow (US$000’s)(2)

 (38,238)

4,425

 -964%

Operating cash flow/netback (US$/Mcfe)(1)(2)

      2.10

2.60

   -19%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.

7

Expenditures

Expenditures

(US$000’s)

 2014

Three Months ended March 31

2013

 

Exploration(1)                                 

153,137

196,956

 

Development

38,085

9,278

 

Total

191,222

206,234

 

 

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 June 30, 2014

 

Shares outstanding

93,710,549

Options outstanding

3,398,488

Market capitalization

206 Million

Indices

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