Report 4q 2015
Published Wednesday 17 February 2016
Interoil recorded an EBITDAx (EBITDA adjusted for exploration expenses) from continuing operations of USD 1,0 million in Q4 2015 before one off provisions (Q4 2014: USD 1,4 million) on operating revenues of USD 3,6 million (Q4 2014: USD 8,1 million). The decrease in revenues and EBITDAx primarily results from the fall in the oil price. Provisions of USD 3,5 million relating to the Trayectoria receivable and additional depreciation of USD 1,1 million, resulted in a comprehensive net loss of USD 4,2 million for the quarter (Q4 2014: profit USD 4,5 million). It should be noted that the Q4 2014 profit benefited from the recognition of net exchange gains on the revaluation of borrowings of USD 6,9 million compared to net exchange losses of USD 0,5 million in Q4 2015.
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Interoil Exploration and Production ASA is a Norwegian based exploration and production company – listed on the Oslo Stock Exchange – with focus on Latin-America. The Company is operator of production and exploration assets in Colombia. Interoil currently employs approximately 70 people and is headquartered in Oslo.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.