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2014 November 28

Information from Q3 2014 Misen Energy AB (publ)

Following is a summary of the financial information given in the Q3 2014 report from Misen Energy AB (publ) published today, 28 November 2014. The complete report is available in both English and Swedish on the company's website: http://misenenergy.se/en/main/investors/reports

  • Daily production is on the same level compared with September 2013.
  • Total production during January-September 2014 has increased by 1.6 % compared to the same period 2013. Consolidated operating group income increased by 31% compared to Q3 2013 and consolidated group net turnover increased by 31% compared to 2013.
  • Accumulated earnings per share 1.9 % lower than Q3 2013.
  • A full inclusion of JA into the balance of the on-going production on the monthly basis and partial access for sales of gas previously accumulated in the underground storages.

January – September 2014 (2013):

  • Consolidated group operating income KSEK 149,730 (21,216)
  • Consolidated group net turnover KSEK 323,556 (76,155)
  • Earnings per share SEK 0.55 (0.09)

Accumulated production:
                                              During Q3 2014               During Q3 2013    

Natural gas (mmcm)                         515                                  507

 

For further information, please contact:

Göran Wolff, MD

Direct line:   +46 31 759 50 72
Mobile:        +46 709 45 48 48
E-mail:         goran@misenenergy.se
                    info@misenenergy.se


Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on Nasdaq Stockholm First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine. Under IFRS rules, this transaction is classified as a reverse takeover. In consideration of the acquisition, a new share issue was carried out.
The gas producing assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement between the wholly-owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine. The value of the assets is estimated to be substantially higher than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program. The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on First North under identification ticker MISE.
The Certified Adviser of the company at Nasdaq Stockholm First North is Consensus Asset Management AB (formerly Thenberg & Kinde Fondkommission AB).
For further information, please visit our website www.misenenergy.se.

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