Petrosibir AB announced unaudited group and parent earnings results for the second quarter and six months ended June 30, 2016 and operating results for the second quarter and six months ended June 30, 2016. For the quarter, the group reported total revenue of SEK 6,908,000 against SEK 8,967,000 a year ago. Operating loss was SEK 5,726,000 against profit of SEK 703,000 a year ago. Loss before tax was SEK 4,028,000 against profit of SEK 719,000 a year ago. Loss for the period was SEK 4,022,000 against profit of SEK 725,000 a year ago. Loss for the period, total for the Group was SEK 4,022,000 against profit of SEK 2,766,000 a year ago. Loss per share from continuing operations was SEK 0.14 against earnings per share of SEK 0.04 a year ago. Cash flows used in operating activities was SEK 379,000 against SEK 1,458,000 a year ago. Investment in oil and gas assets was SEK 74,000 against SEK 1,834,000 a year ago.

For the six months, the group reported total revenue of SEK 11,341,000 against SEK 15,291,000 a year ago. Operating loss was SEK 9,940,000 against SEK 120,000 a year ago. Loss before tax was SEK 3,458,000 against SEK 70,000 a year ago. Loss for the period was SEK 3,446,000 against SEK 58,000 a year ago. Loss for the period, total for the Group was SEK 3,446,000 against profit of SEK 3,493,000 a year ago. Loss per share from continuing operations was SEK 0.12. Cash flows used in operating activities was SEK 6,689,000 against SEK 1,593,000 a year ago. Investment in oil and gas assets was SEK 829,000 against SEK 3,584,000 a year ago.

For the quarter, the parent company reported revenue of SEK 728,000 against SEK 135,000 a year ago. Operating loss was SEK 2,424,000 against SEK 2,017,000 a year ago. Loss before tax was SEK 1,601,000 against SEK 979,000 a year ago. Loss for the period was SEK 1,601,000 against SEK 979,000 a year ago.

For the six months, the parent company reported revenue of SEK 1,306,000 against SEK 270,000 a year ago. Operating loss was SEK 6,599,000 against SEK 4,061,000 a year ago. Loss before tax was SEK 6,598,000 against profit of SEK 990,000 a year ago. Loss for the period was SEK 6,598,000 against profit of SEK 990,000 a year ago.

For the quarter, the company reported oil production of 126,260 barrels against 41,210 barrels a year ago.

For the six months, the company reported oil production of 248,720 barrels against 82,170 barrels a year ago.