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Atlantic Petroleum P/F (ATLA.CO)

ATLA.CO on Copenhagen Stock Exchange

10.20DKK
5:11am EDT
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kr.10.90
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Latest Key Developments (Source: Significant Developments)

Atlantic petroleum Q1 net profit at DKK 5.4 Million
Friday, 26 May 2017 06:57am EDT 

May 26 (Reuters) - ATLANTIC PETROLEUM P/F : :ATLANTIC PETROLEUM POSTS A NET PROFIT OF DKK 5.4MM IN Q1 2017 .Q1 EBITDAX DKK 6.8 ‍​ MILLION VERSUS LOSS DKK 15.5 MILLION YEAR AGO.Q1 OPERATING PROFIT DKK 6.8 MILLION VERSUS LOSS DKK 31.7 MILLION YEAR AGO.EXPECTS TO SHOW A NET PROFIT FOR THE FULL YEAR 2017‍​.  Full Article

Atlantic Petroleum Q4 EBITDAX loss narrows to DKK 15.5 mln
Wednesday, 29 Mar 2017 02:23am EDT 

ATLANTIC PETROLEUM P/F : RESULT AFTER TAX FOR 2016 WAS A NET PROFIT OF DKK 12.4MM (2015: LOSS OF DKK 564.0MM) . COMPANY HAD A GROSS PROFIT OF DKK 61.8MM IN 2016 (2015: GROSS LOSS OF DKK 420.7MM) . DOES NOT EXPECT ANY PRODUCTION IN 2017 . PAYMENT OF A DIVIDEND IS NOT PROPOSED. . Q4 NEGATIVE REVENUE DKK 0.2 MILLION VERSUS POSITIVE REVENUE DKK 23.5 MILLION YEAR AGO . EXPECTS TO DELIVER A POSITIVE RESULT IN 2017 .Q4 EBITDAX LOSS DKK 15.5 MILLION VERSUS LOSS DKK 277.2 MILLION YEAR AGO.  Full Article

Atlantic Petroleum to sells its 25 pct interest of Orlando
Tuesday, 14 Mar 2017 11:12am EDT 

Atlantic Petroleum P/F : Sells its 25 percent interest of Orlando for cash and share of sale proceeds from future Orlando production . Has entered into sale and purchase agreement with Decipher Energy for its 25 percent interest in Orlando development . Consideration is 2 percent revenue share of total Orlando production revenue until field has produced 5 million barrels of oil . After that, revenue share to Atlantic Petroleum increases to 4.35 percent of total Orlando field revenue .$1 million of initial 2 percent revenue share is prepaid on completion of sale and purchase agreement.  Full Article

Atlantic Petroleum refinances debt, issues convertibles to London Oil and Gas
Tuesday, 14 Mar 2017 02:16am EDT 

Atlantic Petroleum P/F : Said on Monday had decided to issue convertible instruments to London Oil and Gas for up to 8 million pounds ($9.7 million) plus interest . As per March 13, has drawn 881,478 pounds or 7.7 million Danish crowns of loan facility .Had also agreed revised terms with Eik Bank for 66 million crown debt to Eik Bank - debt has been refinanced and is to be paid back from Dec. 2017 to Dec. 2019.  Full Article

Atlantic Petroleum Q2 EBITDAX turns to loss DKK 1.5 million
Thursday, 25 Aug 2016 01:34am EDT 

Atlantic Petroleum P/F : Q2 revenue -127,000 Danish crowns (-$19,238) versus 76.5 million crowns year ago .Q2 EBITDAX loss 1.5 million crowns versus profit 7.7 million crowns year ago.  Full Article

Atlantic Petroleum sells Orlando for cash and share of sale proceeds
Monday, 6 Jun 2016 02:19am EDT 

Atlantic Petroleum P/F : Sells its 25 pct interest in Orlando development for cash and share of sale proceeds from Orlando production . Consideration is less than 7 million Danish crowns ($1.07 million) in cash and a deferred consideration in form of a share of sale proceeds from Orlando production . Sale and purchase agreement is contingent on Bridge Petroleum acquiring Iona UK Limited . Says if field performs as expected and oil price recovers, there can be significant upside to Atlantic Petroleum from Orlando sales proceeds .Has entered into a sale and purchase agreement with bridge petroleum.  Full Article

Atlantic Petroleum Q1 EBIT loss widens to DKK 52.4 million
Wednesday, 25 May 2016 03:26am EDT 

Atlantic Petroleum P/F : Q1 revenue 10.9 million Danish crowns ($1.63 million) versus 39.1 million crowns year ago . Q1 EBITDAX loss 24.7 million crowns versus 28.2 million crowns year ago . Q1 EBIT loss 52.4 million crowns versus loss 43.6 million crowns year ago . Says revenue was impacted by loss of production from Chestnut due to Atlantic Petroleum North Sea Limited's inability to resolve default under the Chestnut Joint Operating Agreement and lower oil price . Says Atlantic Petroleum North Sea Limited's (APNSL's) interest in the Chestnut Field is now liable to forfeiture . Says is finalising discussions with the Operator of the Chestnut Field in regards to the forfeiture and the outstanding claims .Says negotiations are continuing on a commercial solution on Orlando and Kells; there is an expectation that these will reach a conclusion in Q2 2016.  Full Article

Atlantic Petroleum signs £8 mln secured convertible loan facility
Wednesday, 25 May 2016 01:00am EDT 

Atlantic Petroleum P/F : Signs £8 million ($11.69 million) secured convertible loan facility . Entered into loan agreement with London Oil and Gas Limited for provision of secured convertible loan facility for up to £8 million . Up to £6 million of new facility to be dedicated to fund acquisitions that would add value to existing ap portfolio .LOG have right to nominate a board member and will propose a non-executive director.  Full Article

Atlantic Petroleum in Heads of Terms with London Oil and Gas
Thursday, 24 Mar 2016 06:15pm EDT 

Atlantic Petroleum P/F:Has entered into Heads of Terms with London Oil and Gas Ltd (LOG).LOG is prepared to inject funds and assets into Atlantic Petroleum of at least 8 million British pounds ($11.30 million) by June 24 through convertible instrument.It is subject to negotiation and execution of legally binding agreement, compromise or resolution in relation to certain liabilities of Atlantic Petroleum North Sea Limited and agreement of arrangements going forward on treatment of debt owed to P/F Atlantic Petroleum's main creditor Eik Bank.Has undertaken that for duration of Exclusivity Period of 90 days from March 24 it will discuss and negotiate proposed transaction with LOG on exclusive basis conditional upon LOG forwarding loan of minimum 47,000 pounds per month for duration of exclusivity period.  Full Article

Atlantic Petroleum P/F sells Norwegian activities to M Vest Energy AS
Wednesday, 9 Mar 2016 03:00am EST 

Atlantic Petroleum P/F:Fully owned subsidiary Atlantic Petroleum Norge AS (APN) has entered into a Sale and Purchase Agreement with M Vest Energy AS for the sale of Norwegian activities for the consideration of 1 Norwegian crown.M Vest Energy AS is a company partially owned by existing management of APN​.Says ‍it is likely that company or subsidiaries will go into restructuring or administration​.Expects to record an impairment of about 150 million Danish crowns.  Full Article

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