07/13/2017

Report for the 2nd quarter 2017 and the 1st half year 2017

Figures in USD

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA)
OF 29 MILLION FOR THE 2ndQUARTER 2017 AND 69 MILLION FOR THE 1stHALF YEAR 2017

HIGHLIGHTS FOR THE 2ndQUARTER 2017

  • Revenues were 55 million
  • EBITDA was 29 million
  • Impairment of 75 million
  • Operating profit (EBIT) was negative 104 million
  • Profit before tax was negative 116 million
  • Earnings per share were negative 1.86
  • Bideford Dolphin - 100 day optional well exercised by Statoil
  • Bredford Dolphin - won arbitration case of approximately USD 14 million
  • Borgsten Dolphin to be decommissioned
  • Bolette Dolphin – termination for convenience by Anadarko, against a fee of USD 96 million