Financial Highlights
· Gross revenue from continuing operations[1] for 1Q 2020 of
· EBITDA from continuing operations of
· Q1 2020 Net income before tax of
· Q1 2020 net group production from continuing operations of approximately 2,042 bopd (Q4 2019 average net production: 1,921 bopd)
· Cash balances of
· Debt of
Operational Highlights
· Production and lifting operations maintained and unaffected through crisis
· Health and Safety systems and protocols proved resilient
· Capital expenditure materially reduced through the deferment of drilling activities in
·
· Tunisian gross production increased by 15% as compared to Q4 2019 to approximately 4,000 bopd in current quarter with further increase targeted in Q3
· Rig secured to drill well on Guebiba field, to be followed by
Corporate Highlights
· Hedging strategy proving effective in period of extremely volatile and low oil prices
· Farm-in agreement signed on
Outlook and Guidance
· Current 2020 net production guidance of 2,300-2,600 bopd due to announced revision in
· In
· Production growth activity in
· Dividend of
[(1)]Discontinued Operations
Aje operations in
The Company will hold a live webinar presentation of the 1Q results at
The webinar presentation can be accessed through registering at the link below and the online access to the event will be equipped with features to ask live questions. The audio Q&A feature will only be available for attendees who join online. Joining instructions for participating online or through using local dial-in numbers will be available upon completion of registration. The webinar details are as follows:
Date and
Time:
Registration: https://attendee.gotowebinar.com/register/1351966501308431631
After registering, participants will receive a confirmation
email containing information about joining the webinar.
Participants can use their telephone or computer microphone and
speakers (VoIP).
Please join the event at least five minutes before the scheduled start time.
A replay of the webinar will be available shortly after the event is finished and will remain on our website (www.panoroenergy.com) for approximately 7 days.
Enquiries
Tel: +44 203 405 1060
Email: investors@panoroenergy.com
About
For more information visit the Company's website at www.panoroenergy.com.
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https://mb.cision.com/Public/399/3121647/a21738f158948c9e.pdf
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