Chelsea Oil and Gas Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
December 01, 2015 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, 2015. For the quarter, the company reported royalty income of $5,739 compared to $156,841 a year ago. Net loss before tax was $129,544 compared to $87,744 a year ago. Net loss was $129,544 compared to $87,855 a year ago. Cash outflows from operating activities were $77,405 compared to cash inflows from operating activities of $15,664 a year ago. Net exploration and evaluation expenditure was $114,490 against $27,124 a year ago.
For the nine months, the company reported royalty income of $60,287 compared to $ 303,891 a year ago. Net loss before tax was $315,357 compared to $167,384 a year ago. Net loss was $317,845 compared to $179,226 a year ago. Cash outflows from operating activities were $126,975 compared to cash inflows from operating activities of $41,543 a year ago. Net exploration and evaluation expenditure was $121,162 against $26,159 a year ago.