Following is a summary of the financial information given in the Q2 2015 report from Misen Energy AB (publ) published today. The complete report is available in both English and Swedish on the Company's website: http://misenenergy.se/en/main/investors/reports Summary of results: · During Q2 2015 production picked up due to resumed investment program but the overall production levels of H1 2015 remain stagnant when compared to H1 2014. · During H1 2015 Misen faced lower sales volumes, lower sales prices, combined with increased sub-soil charges and continuously weakening Ukrainian currency, what resulted in consolidated operating group income being lower by 74% when compared to H1 2014 and in consolidated group net turnover being lower by 12%. · Accumulated earnings per share for H1 2015 are 82% lower than for H1 2014. · Execution of JA investment program grew by 91% during H1 2015 when compared to H1 2014. Key events: · For the period of Q2 2015, the subsoil use charge for JAs operating in Ukraine was increased from 60% to 65%. · During Q2 2015, Amendment No.7 to the Joint Activity Agreement was duly registered in accordance with the applicable Ukrainian legislation. · During Q2 2015, Ukrainian currency has remained stable appreciating by 7% in its value in relation to SEK, however, the net effect during H1 2015 remains negative with the rate for UAH towards SEK decreasing by -20.0%. January – June 2015 (2014): · Consolidated operating group income: KSEK 62,192 (240,070) · Consolidated group net turnover: KSEK 401,973 (457,913) · Earnings per share: SEK 0.18 (1.03) · Production of natural gas: 339.2 million cubic meters (346) Key events after end of Q2 2015: · Starting July 2015, the subsoil use charge for the JAs was further increased to 70%. For further information, please contact: Göran Wolff, MD Direct line: +46 31 759 50 72 Mobile: +46 709 45 48 48 E-mail: goran@misenenergy.se info@misenenergy.se Misen Energy AB (publ) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on Nasdaq First North Stockholm. In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine. In consideration of this acquisition, a new share issue was carried out. The gas producing assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement between the wholly -owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine. The value of the assets is estimated to be substantially higher than the purchase price for Misen Enterprises AB. The purpose of the project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program. The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on First North under identification ticker MISE. The Certified Adviser of the company at Nasdaq First North Stockholm is Consensus Asset Management AB. For further information, please visit our website www.misenenergy.se.
Information from Q2 2015 Misen Energy AB (publ)
| Source: Misen Energy AB (publ.)