Brief: Atlantic Petroleum loses equity after FY loss
30/03/2016 07:59
March 30 (Reuters) - Atlantic Petroleum P/F ATLA.CO :
* Result after tax for 2015 was net loss of 564 million Danish crowns ($85.52 million)
principally caused by impairment charges of 389.2 million crowns on producing and development
fields and exploration expenses of 337.3 crowns including relinquishment of licences
* Q4 revenue 23.5 million crowns versus 81.6 million crowns year ago
* Q4 EBIT loss 503.1 million crowns versus loss 314.4 million crowns year ago
* Current situation is serious, as company's equity is a deficit of 102.0 million crowns
* Expects no production in 2016, and the EBITDAX for 2016 is expected to be negative
* An equity injection or a creditor solution is required to keep group solvent
Source text for Eikon: ID:nCSE6fz1
Further company coverage: ATLA.CO
($1 = 6.5952 Danish crowns)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))
Recent news on Atlantic Petroleum P/F
See all newsBrief: Atlantic Petroleum P/F - To Reduce Total Debt By Over DKK 90 Million
Brief: Atlantic Petroleum P/F Says Work On Completing Relevant Debt Agreements Is Still Pending But Finalization And Signature Is Expected Within Weeks
Brief: Atlantic Petroleum To Keep Activity At Minimum Until End-2025
Brief: Atlantic Petroleum Q2 Operating Loss DKK 3.2 Mln
Brief: Atlantic Petroleum Q1 Operating Loss At DKK 2.5 Mln