Urals Energy Public Company Limited reported unaudited group earnings and production results for the six months ended June 30, 2018. For the period, the company reported net revenues after excise, export duties and VAT of $11,187,000 compared to $22,433,000 a year ago. Operating loss was $1,438,000 compared to $211,000 a year ago. Normalized management EBITDA was $1,111,000 compared to $3,433,000 a year ago. Loss for the period was $3,628,000 compared to $759,000 a year ago. Net debt position of $14.6 million as at 30 June 2018. Net loss before income tax of $4.0 million compared to $0.4 million a year ago. The increase in net loss before income tax was caused by exchange rate movements during the reporting period. Underlying net loss before income tax and foreign exchange effects of $2.2 million compared to $0.9 million a year ago.

For the six months, the company's production at Petrosakh of 168,165 bbls against 202,058 bbls a year ago. Production at Arcticneft was 102,803 bbls against 131,140 bbls a year ago. Current daily production at Arcticneft and Arctic Oil Company is 907 barrels of oil per day compared with an average of 863 BOPD for the six months ended 30 June 2018. Current daily production at Petrosakh is 920 BOPD compared with an average of 929 BOPD for the six months ended 30 June 2018. Total production 324,392 barrels against 388,889 barrels a year ago.