January - December 2021
· Total revenue: SEK 64 (39) million
· Operating result: SEK -1 (-1) million
· Operating result excluding expensed drilling costs: SEK 8 million (-1)
· Net income SEK -3 (0) million
· Net income excluding expensed drilling costs: SEK 6 (0) million
· Earnings per share: SEK -0.09 (0.0)
July - December 2021
· Revenue: SEK 33 (19) million
· Operating result: SEK 5 (-1) million
· Net income SEK 5 (-1) million
· Earnings per share: SEK 0.17 (0.03)
I am pleased to announce the year-end results for 2021.
In 2021 we happily observed the oil markets recovery in spite of the continued COVID pandemic. The oil price growth helped us to maintain the profitability of the business in spite of naturally declining production in our main producing asset - the Ayazovskoye field, due to delaying the development drilling until we obtain the new 3D seismic data. At the same time the continued focus on costs control helped us to fight the inflation pressure that we are seeing in all sectors of the industry - manpower, services and materials.
The recent events in Ukraine have so far had little or no effect on the operations of the Company and its subsidiaries, nevertheless it is very dynamic and has deteriorated significantly since we started drafting the report. Our current focus is to ensure business stability and consider all options to minimise the losses.
Pavel Tetyakov, CEO
Upcoming financial reporting
Annual report 2021 April 2022
Annual General Meeting 2022 May / June 2022
This information was released for publication on 28 February 2022.
For the complete Report, see attached document.
For more information, please contact:
Pavel Tetyakov, CEO, +46 8 407 1850
Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585
Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibir's 2P oil and gas reserves amount to 33.6 million barrels of oil equivalent or 35.4 million barrels of ABC1+C2 Russian State Balance Reserves (similar to 2P reserves under SPE PRMS standards). The Petrosibir share is traded on the OTC-list at beQuoted starting from 17 February 2016 under the symbol PSIB-B.