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MIE Holdings Corp Comments On H1 2013 Profit Guidance


Monday, 29 Jul 2013 11:55am EDT 

MIE Holdings Corp announced that for the first half of 2013, it expected to record a material decrease in its net profit as compared with that for the first half of 2012 though the Company's total revenue is expected to record a mild drop for the same period. The expected decrease in net profit is principally attributable to: the material increase of depreciation, depletion and amortization expenses in first half of 2013 compared to the same period in 2012; the average realized oil price for our Northeast China production (Daqing oil price FOB at Dalian port) in the period dropped by about $14/barrel compared to the first half of 2012; the drop in the net production allocated to the Company for the Northeast China project as a result of the reduced capital expenditure contributed by the Company in the first half of 2013 compared to the first half of 2012. 

Company Quote

1.02
-0.02 -1.92%
24 Oct 2014