Chelsea Oil and Gas Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
November 30, 2016 at 04:34 pm IST
Chelsea Oil and Gas Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported royalty income of $3,799 compared to $5,739 a year ago. Net loss before tax was $117,603 compared to $129,544 a year ago. Net loss was $117,799 compared to $129,544 a year ago. Cash outflows from operating activities were $16,529 compared to $77,405 a year ago. Net exploration and evaluation expenditure was nil against $114,490 a year ago.
For the nine months, the company reported royalty income of $60,287 compared to $60,287 a year ago. Net loss before tax was $391,750 compared to $315,357 a year ago. Net loss was $392,347 compared to $317,845 a year ago. Cash outflows from operating activities were $86,566 compared to $126,975 a year ago. Net exploration and evaluation expenditure was $8,459 against $121,162 a year ago.