Caspian Sunrise PLC: Interim Results for the Period Ended 30 June 2020
Highlights in period under review and subsequently
Operational
Production
Six months ended 30 June | Units | 2020 | 2019 |
Total production | bbls | 272,707 | 259,475 |
Production for export sales | bbls | 115,233 | – |
Production for domestic sales | bbls | 157,474 | 259,475 |
Average daily production in the period | bopd | 1,494 | 1,421 |
Daily production at the period end | bopd | 1,643 | 1,268 |
· New Wells 150 & 153 operational in the period under review
· New Well 151 spudded in the period under review and now testing
· Acid treatments conducted at Deep Wells A6 & A8
· Work resumed at deep Well A5
· Acquisition of the Caspian Explorer now subject only to UAE re-registration
· New drilling paused
Financial
Six months ended 30 June | 2020 | 2019 | |
$’m | $’m | ||
Revenue | 5.0 | 4.4 | |
Gross Profit | 2.4 | 0.0 | |
Operating loss | (0.9) | (1.4) | |
Loss before tax | (1.4) | (1.5) | |
Total assets | 121.9 | 127.5 | |
Cash & cash equivalents | 0.2 | 4.0 | |
Other current assets | 4.5 | 5.7 | |
Current liabilities | 28.4 | 28.4 | |
Net cash used by / provided from operating activities | (4.7) | 4.6 |
