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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Royal Dutch Shell A    RDSA   GB00B03MLX29

Real-time Quote. Real-time Tradegate - 08/26 12:15:30 pm
22.179 EUR   +0.70%
10:59a PETRO MATAD : Squeezes Out Tiny Profit As Income Flows From Partner ..
05:39a ROYAL DUTCH SHE : State legislators come together to talk Shell crac..
08/25 ROYAL DUTCH SHE : Publication of a Supplementary Prospectus
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Petro Matad : Squeezes Out Tiny Profit As Income Flows From Partner Exit

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08/26/2016 | 10:59am CEST

LONDON (Alliance News) - Petro Matad Ltd Friday said it managed to squeeze out a tiny USD93,000 profit in the first half of 2016 after the cash calls it received provided some much needed income to cover the company's costs.

The company turned from a pretax loss of USD1.7 million last year after securing USD4.8 million in income from cash calls received in 2016 from BG Group, now part of Royal Dutch Shell PLC, to fund operations under the farm-out agreement prior to receipt of the exit notice.

Earlier this month, after the reporting period, Petro Matad secured a USD10.0 million payment from Shell as part of the oil major's decision to exit the venture with Petro Matad on two blocks in Mongolia. A further USD5.0 million payment from the Mongolian government is expected in the near future as part of the exit.

"Following receipt of these funds the company will be in a position to execute its exploration program for the next twelve months," said the company.

The employee benefit expense was higher in the half at USD1.8 million from USD645,000 whilst exploration costs soared to USD2.2 million from USD160,000, with other costs also increasing to USD683,000 from USD431,000.

Petro Matad shares were trading down 3.3% to 2.95 pence per share on Friday morning.

Copyright 2016 Alliance News Limited. All Rights Reserved.  , source Alliance News

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Financials ($)
Sales 2016 230 666 M
EBIT 2016 13 689 M
Net income 2016 7 879 M
Debt 2016 64 701 M
Yield 2016 7,52%
P/E ratio 2016 18,51
P/E ratio 2017 10,29
EV / Sales 2016 1,16x
EV / Sales 2017 0,93x
Capitalization 203 829 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 30,7 $
Spread / Average Target 24%
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Ben van Beurden Chief Executive Officer & Executive Director
Charles Holliday Chairman
Simon P. Henry Chief Financial Officer & Executive Director
Harry Brekelmans Director-Technology & Projects
Gerardus Johannes Wijers Deputy Chairman
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