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For the six months period ended December 31, 2016
Selected notes to and forming part of the Condensed Interim
Financial Information (Unaudited)
20
15. Cash and bank balances
10,787,313
654,294
41,201
11,482,808
3,335
11,486,143
16. Net sales
3,174,792
5,593,952
2,319,673
4,410,577
1,554,577
2,736,136
31,669
64,236
-
-
7,080,711
12,804,901
Bank balance on:
Short term deposits
9,082,080
Interest/ mark-up bearing saving accounts
1,551,667
Current account
127,124
10,760,871
Cash in hand
2,930
10,763,801
Balance with banks include foreign currency balances of US $ 68,291 thousand (June 30, 2016:
US $ 67,174 thousand).
Crude oil
2,634,774
5,152,198
Gas - 16.1
2,175,028
4,129,131
POLGAS -Refill of cylinders
1,626,932
2,850,336
Solvent oil
54,538
106,634
Sulphur
-
4,861
6,491,272
12,243,160
The Company has signed the Supplemental Agreements with the Government of
Pakistan (the Government) for conversion of Petroleum Concession Agreements (PCA)
to PetroleumExploration & Production Policy 2012 in respect of Ikhlas, DG Khan, Kirthar
South, Margala, Margala North, Gurgalot and Tal Block. Price regimes prevailing in
Petroleum Policy 2007, Petroleum Policy 2009 and Petroleum Policy 2012 shall be
applicable correlated with the spud date of wells in the respective policies starting from
November 27, 2007 and for future exploratory efforts under the abovementioned blocks.
In terms of supplemental agreements, draft statements specifying sums aggregating US
$ 34.39 million till June 30, 2015 due to the Company in respect of Mamikhel, Maramzai
& Makori East discoveries in TAL block and Domial discovery in Ikhlas block have been
submitted to the Government. The Government shall facilitate issuance of necessary
gas price notifications and payments to be made to the parties within twelve months of
the statements being finalized. Effect of adjustment arising from revision in sale price will
be recognised upon finalization of the statements and issuance of gas price notifications
by the Government.
16.1
Dec. 31, 2016
June 30, 2016
Rupees ('000)
Rupees ('000)
Dec. 31, 2015
Six months period ended
Three months period ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016