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20
For the nine months period ended March 31, 2018
Selected notes to and forming part of the Condensed Interim
Financial Information (Unaudited)
15. Cash and bank balances
9,575,508
8,406,475
10,390
17,992,373
4,483
17,996,856
16. Net sales
4,888,806
12,247,416
2,106,205
4,856,141
1,697,303
4,751,520
46,236
123,825
7,950
7,950
8,746,500
21,986,852
16.1
Bank balance on:
Short term deposits
12,615,073
Interest / mark-up bearing saving accounts
1,543,023
Current account
20,534
14,178,630
Cash in hand
2,898
14,181,528
Balance with banks include foreign currency balances of US $ 88,694 thousand (June 30,
2017: US $ 73,533 thousand).
Crude oil
3,369,739
8,963,691
Gas - note 16.1
2,526,746
6,937,323
POLGAS - Refill of cylinders
1,682,720
4,418,856
Solvent oil
31,820
96,056
Sulphur
-
-
7,611,025
20,415,926
On August 28, 2015, the Company signed the Supplemental Agreement with the
Government of Pakistan (the Government) for conversion of TAL Block Petroleum
Concession Agreement (PCA) signed under the Petroleum Policy 1997 to Petroleum
(Exploration & Production) Policy 2012 (Petroleum Policy 2012). 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 above
mentioned Block.
On December 27, 2017, the Ministry of Energy (Petroleum Division) notified
amendments in Petroleum Policy 2012 and imposed Windfall Levy on Oil/Condensate.
Under the said Notification, the Supplemental Agreements already executed for
conversion from Petroleum Policies of 1994 & 1997 shall be amended within 90 days,
failing which the working interest owners would not remain eligible for enhanced gas
price incentive. On January 3, 2018, Directorate General Petroleum Concessions
(DGPC) required all exploration and production companies to submit Supplemental
Agreements to incorporate the aforementioned amendments in PCAs signed under
policies 1994 and 1997, for execution within the stipulated time as specified above.
Nine months period ended
Three months period ended
Rupees ('000)
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2018
Jun. 30, 2017
Rupees ('000)