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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Coastal Eng | LSE:CEO | London | Ordinary Share | KYG224041189 | COM SHS USD0.04 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,056.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Total current assets 191,377 148,813 Non-Current Assets Exploration and evaluation assets (Note 6) 62,921 118,350 Property, plant and equipment (Note 7) 688,724 560,493 Investment in and advances to Apico LLC (Note 8) 63,144 60,266 Deposits and other assets 6,271 6,271 Total non-current assets 821,060 745,380 Total Assets 1,012,437 894,193 Liabilities Current Liabilities Accounts payable and accrued liabilities (Note 9) 247,216 217,757 Current portion of long-term debt (Note 11) 34 34 Current portion of derivative liabilities (Note 11) 973 1,372 Total current liabilities 248,223 219,163 Non-Current Liabilities Long-term debt (Note 11) 95,594 95,066 Non-current portion of derivative liabilities (Note 11) 683 502 Derivative liability - Warrants (Note 10) 3,596 3,784 Deferred tax liabilities 128,662 98,423 Decommissioning liabilities 48,302 46,726 Total non-current liabilities 276,837 244,501 Shareholders' Equity (Note 14) Common shares 215,141 213,260 Contributed surplus 20,269 18,940 Warrants Retained earnings 245,902 193,877 Total Shareholders' Equity 481,312 426,077 Non-controlling interest 6,065 4,452 Total equity 487,377 430,529 Total liabilities and equity 1,012,437 894,193 Commitments and contingencies (Note 17)
CASH FLOW STATEMENT
Three Months Ended March 31, 2013 2012 Operating activities Net income 52,996 48,493 Adjustments: Share of earnings from Apico LLC (5,218) (4,007) Unrealized (gain) loss on derivative instruments (217) 4,007 Depletion and depreciation 23,305 20,044 Finance expenses 1,215 1,006 Amortisation of debt financing fees 528 281 Share-based compensation 2,484 2,991 Deferred income taxes 30,239 11,703 Unrealized foreign exchange (gain) loss (1,020) 92 Gains on disposal of property, plant (19) - and equipment Income taxes paid (6,984) - Interest received 27 2 Interest paid (1,118) (721) Dividends received from Apico 2,340 - LLC Change in non-cash working capital: Accounts receivable (88,862) (15,537) Inventory 6,910 (5,476) Prepaids and other current assets (929) 748 Accounts payable and accrued liabilities (6,846) (19,357) Current income taxes payable 44,974 36,608 Cash flow provided by operating activities 53,805 80,877 Financing Activities Issuance of common shares, net of issuance costs 1,288 992 Cash settlement of restricted stock (156) - units Borrowings under long-term debt 15,000 - Repayment of long-term debt (15,000) (30,000) Loan arrangement fees - (746) Distributions to non-controlling (1,293) - interest Contributions from non-controlling 1,989 - interest Cash flow provided by (used in) financing activities 1,828 (29,754) Investing Activities (Increase) decrease in restricted cash (32) 22,036 Expenditure on property, plant and equipment (95,972) (45,229) Acquisition of increased ownership interest in Apico LLC - (9,250) Proceeds from disposal of 533 - property, plant and equipment Cash flow used in investing activities (95,471) (32,443) Effect of exchange rate changes on cash (510) (775) (Decrease) increase in cash (40,348) 17,905 Cash - Beginning of period 63,897 22,995 Cash - End of period 23,549 40,900 The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Randy Bartley, President and Chief Executive Officer of the Company and a member of the Society of Petroleum Engineering and Jerry Moon, Vice President, Technical & Business Development, a member of the American Association of Petroleum Geologists, a Licensed Professional Geoscientist and a Certified Petroleum Geologist in the state of Texas, have reviewed the contents of this announcement.
Additional information, including the Company's complete competent person's report may be found on the Company's website at www.CoastalEnergy.comor may be found in documents filed on SEDAR at www.sedar.com.
This statement contains 'forward-looking statements' as defined by the applicable securities legislation. Statements relating to current and future drilling results, existence and recoverability of potential hydrocarbon reserves, production amounts or revenues, forward capital expenditures, operation costs, oil and gas price forecasts and similar matters are based on current data and information and should be viewed as forward-looking statements. Such statements are not guarantees of future results and are subject to risks and uncertainties beyond Coastal Energy's control. Actual results may differ substantially from the forward-looking statements.
Enquiries:
Coastal Energy Company
Email: investor@CoastalEnergy.com +1 (713) 877-6793
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409 3494
Rory Murphy / Andrew Emmott
Macquarie Capital (Europe) Limited (Broker) +44 (0) 20 3037 2000
Jeffrey Auld
FirstEnergy Capital LLP(Broker)
Hugh Sanderson / Travis Inlow +44 (0) 20 7448 0200
Buchanan
Tim Thompson / Ben Romney +44 (0) 20 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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