Brief: Atlantic Petroleum Q1 Oper Profit Down At DKK 2.4 mln

Atlantic Petroleum P/F

01/06/2022 07:52

June 1 (Reuters) - Atlantic Petroleum P/F  ATLA.CO :
    * SAID ON TUESDAY, Q1 OPERATING PROFIT DKK 2.4 MLN VS DKK
6.2 MLN
    * Q1 NET PROFIT DKK 2.8 MLN VS DKK 2.6 MLN
    * Q1 BANK DEBT WAS DKK 59.4 MLN 
    * THERE IS UNCERTAINTY REGARDING GOING CONCERN STATUS OF
GROUP
    * THE ABILITY OF THE GROUP TO CONTINUE AS GOING CONCERN IS
DEPENDENT ON DEBT SOLUTION ON BANK DEBT AND CONVERTIBLE DEBT
    * ALTHOUGH OUTCOME ON POTENTIAL DEBT SOLUTION IS UNCERTAIN,
THE
BOARD BELIEVES THAT SOLUTION IS POSSIBLE
    * IN EVENT THAT GROUP IS UNABLE TO CONTINUE TO TRADE,
SIGNIFICANT
DOWNWARD ADJUSTMENTS WOULD BE REQUIRED TO FAIR VALUE OF GROUP'S
ECONOMIC INTEREST IN ORLANDO ASSET TO PRESENT VALUE OF THESE
ASSETS ON BREAK UP BASIS


        
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE6rZGqz
 Further company coverage:  ATLA.CO  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))