Stockholm, 2012-08-22 08:20 CEST (GLOBE NEWSWIRE) --
INTERIM REPORT JANUARY - JUNE 2012
PETROGRAND AB (publ)
Second quarter of 2012
- During the 2nd quarter, the Group had no operating income (-). The operating result for the 2nd quarter amounted to TSEK -8,075 (-8,908).
- The change in real value of assets under discretionary management amounted to TSEK 2,212 (-802). Net financial items in the 2nd quarter amounted to TSEK -15,193 (18,775), also including currency effects of TSEK -18,469 (-12,824)
- Net result after tax for the 2nd quarter amounted to TSEK -23,268 (9,866).
- Earnings Per Share for the period amounted to SEK -0.58 (0.25).
January - June 2012
- During the 1st half of the year, the Group had no operating income (-). The operating result for the period amounted to TSEK -15,146 (-17,069).
- The change in real value of assets under discretionary management amounted to TSEK 9,509 (9,668). Net financial items in the period amounted to TSEK 7,445 (31,449), also including currency effects of TSEK -4,309 (10 481)
- Net result after tax for the period amounted to TSEK -7,702 (14,380)
- Earnings Per Share for the period amounted to SEK -0.19 (0.36).
For further information, please contact:
Maks Grinfeld, CEO, phone: +46 8 5000 7810
Sven-Erik Zachrisson, Chairman, phone: +46 8 5000 7810
Certified Adviser First North: Mangold Fondkommission AB
Reasonable caution notice:
The statement and assumptions made in the company's information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses, strategies, concepts and other statements that are not historical facts are estimations or "forward looking statements" concerning Petrogrand's future activities. Such future estimations comprise but are not limited to statements that include words such as "may occur", "concerning", "plans", "expects", "estimates", "believes", "evaluates", "prognosticates" or similar expressions. Such expressions reflect the management of Petrogrand's expectations and assumptions made on the basis of information available at that time.
These statements and assumptions are subject to a large number of risks and uncertainties. These, in their turn, comprise but are not limited to I) changes in the financial, legal and political environment of the countries in which Petrogrand conducts business, II) changes in the available geological information concerning the company's projects in operation, III) Petrogrand's capacity to continuously guarantee sufficient financing to perform their activities as a "going concern", IV) the success of all participants in the group, or of the various interested companies, joint ventures or secondary alliances, V) changes in currency exchange rates, in particular those relating to the RUR/USD rate. Due to the background of the many risks and uncertainties that exist for any oil-prospecting venture and oil production company in its initial stage, Petrogrand's actual future development may significantly deviate from that indicated in the company's informative statements.
