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36
Selected notes to and forming part of the Condensed Interim
Consolidated Financial Information (Unaudited)
For the nine months period ended March 31, 2018
17. Cash and bank balances
8,518,896
9,575,508
11,230
18,105,634
4,556
18,110,190
18. Net sales
4,888,806
12,247,416
2,106,205
4,856,141
1,905,698
5,363,650
46,236
123,825
7,950
7,950
8,954,895
22,598,982
18.1
Bank balance on:
Interest/mark-up bearing saving accounts
1,655,765
Short term deposits
12,615,073
Current accounts
24,848
14,295,686
Cash in hand
2,974
14,298,660
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 18.1
2,526,746
6,937,323
POLGAS/CAPGAS - Refill of cylinders
1,846,807
4,916,845
Solvent oil
31,820
96,056
Sulphur
-
-
7,775,112
20,913,915
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.
Mar. 31, 2018
Jun. 30, 2017
Rupees ('000)
Nine months period ended
Three months period ended
Rupees ('000)
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2017
Mar. 31, 2018