Brief: Atlantic Petroleum H1 Operating Profit Down At DKK 6.4 Mln

Atlantic Petroleum P/F

01/09/2022 13:44

Sept 1 (Reuters) -  ATLA.CO :
    * REPORTED ON WEDNESDAY, H1 OPERATING PROFIT DKK 6.4 MILLION
VERSUS DKK 8.5 MILLION YEAR AGO
    * H1 NET PROFIT DKK 7.7 MILLION VERSUS DKK 5.2 MILLION YEAR
AGO
    * PRODUCTION OF UK ORLANDO FIELD HAS RECOMMENCED IN Q3 2022
FOLLOWING PLANNED WORKOVER EXPECTED TO INCREASE PRODUCTION TO
4,000 TO 5,000 BARRELS OF OIL PER DAY
    * RECEIVES 2% REVENUE SHARE IN DEFERRED CONSIDERATION FROM
ORLANDO
FIELD PRODUCTION UP TO FIRST 5MM BARRELS OF ORLANDO PRODUCTION
    * THEREAFTER DEFERRED CONSIDERATION INCREASES TO 4.35% OF
SALES
PROCEEDS

        
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