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NOTES TO AND FORMING
PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
140
PAKISTANOILFIELDS LIMITED
2020
2019
Rupees ('000)
6.
SHARE CAPITAL
Authorized capital
500,000,000 (2019: 500,000,000) ordinary shares of Rs 10 each
5,000,000
5,000,000
Issued, subscribed and paid up capital
Shares issued for cash
20,200,000 (2019: 20,200,000) ordinary shares
202,000
202,000
Shares issued as fully paid bonus shares
263,655,104 (2019: 263,655,104) ordinary shares
2,636,551
2,636,551
283,855,104 (2019: 283,855,104) ordinary shares of Rs 10 each
2,838,551
2,838,551
6.1
The Company is a subsidiary of The Attock Oil Company Limited which held 149,794,518 (2019:
149,732,358) ordinary shares at the year end.
2020
2019
Rupees ('000)
7.
REVENUE RESERVES
Insurance reserve - note 7.1
200,000
200,000
Investment reserve - note 7.2
1,557,794
1,557,794
Unappropriated profit
35,670,525
33,474,652
37,428,319
35,232,446
7.1
The Company has set aside an insurance reserve for self insurance of assets which have not been
insured and for deductibles against insurance claims.
7.2
The Company has set aside gain on sale of investments as investment reserve to meet any future
losses/ impairment on investments.
2020
2019
Rupees ('000)
8.
LONG TERM DEPOSITS
Security deposits from distributors for cylinders/ equipment
807,977
795,084
Security deposits from distributors and others
53,152
49,672
861,129
844,756
8.1
Amount received as security deposit is kept in a separate bank account and utilized/utilizable by the
Company in accordance with the related agreements with customers.