The Board of Sino Oil and Gas Holdings Limited expected that the Group would record a consolidated net profit for the year ended 31 December 2014 as compared to the consolidated net loss for the corresponding period last year. The Directors are of the view that such increase is primarily due to the net effect of (including but not limited to) the increase in other revenue generated from coalbed methane operation, which comprises of sales of coalbed methane and related regular government subsidy based on sales volume, by exceeding 80% compared with that of last year (2013: HKD 38,899,000); the absence of an one-off expense of HKD 25,247,000 recorded in last year; and the decrease of Group's administrative expenses by approximately 10% resulting from improved internal control.
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- Sino Oil and Gas Holdings Limited Provides Group Earnings Guidance for the Year Ended December 31, 2014