Max Petroleum PLC reported group and parent earnings results for the year ended March 31, 2014 and production results for the year ended March 31, 2014. For the year, the group reported revenue of $100,430,000 against $93,303,000 a year ago. Operating loss was $65,795,000 compared to $1,169,000 for the same period a year ago. Loss before taxation was $71,709,000 compared to $5,100,000 a year ago. Loss was $76,792,000 or 3.8 cents loss per basic and diluted share compared to $10,125,000 or 0.8 cents loss per basic and diluted share a year ago. Net cash generated from operating activities was $33,699,000 against $40,261,000 a year ago. Purchases of property, plant and equipment was $7,652,000 compared to $1,786,000 for the same period a year ago. Adjusted EBITDA was $34,471,000 against $31,491,000 a year ago.

During the fiscal year ended 31 March 2014, the group produced 1,423,000 bbls, or 3,899 bopd, an increase of 17% from total production of 1,221,000 bbls, or 3,346 bopd, in the prior year.