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Etablissements Maurel et Prom SA (MAUP.PA)

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24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Maurel et Prom: Update on the situation in Gabon
Tuesday, 28 Feb 2017 02:51am EST 

Maurel Et Prom : ONEP (petroleum trade union) filed a strike notice on 15 feb; M&P gabon management initiated negotiations with Petroleum Trade Union on Feb. 20 . As a result of this strike notice, operations on all company's sites have been affected . Ezanga permit production was brutally interrupted outside any procedure on 22 february 2017 at 2:30 pm . Production was able to be restarted to a very partial degree beginning on 24 february 2017 and it stands to date at around 3,000 bopd . Company filed an urgent order before court of port gentil, which made its decision on saturday, Feb. 25 2017 by declaring strike unlawful and ordering its immediate ending . Notification of this decision to onep was made late morning on 27 february 2017 .ONEP summoned staff general meetings of all petroleum sites, all companies together, on 27 and 28 february 2017 for submission of a general strike notice.  Full Article

Maurel et Prom announces estimated financial data for FY 2016
Thursday, 23 Feb 2017 02:32am EST 

Maurel et Prom : FY estimated revenue EUR 318 million versus EUR 288 million year ago . FY estimated operating profit EUR 15 million versus loss of EUR 25 million year ago . FY estimated net loss EUR 49 million versus loss of EUR 95 million year ago .These data are subject to change due to the final net result of Seplat or the ongoing audit work.  Full Article

Pertamina holds 72.65 pct of share capital in Maurel & Prom after reopening of its tender offer
Thursday, 16 Feb 2017 05:07am EST 

Maurel et Prom : At end of reopened tender offer, Indonesian company PT Pertamina Internasional Eksplorasi dan Produksi (PIEP) holds 141,911,939 Maurel & Prom shares representing 72.65 pct of share capital and 71.39 pct of voting rights in Maurel & Prom .Piep holds 7,635,839 ORNANES 2019 representing 52.09 pct of outstanding ORNANES 2019 and 4,359,150 ORNANES 2021 representing 41.77 pct of outstanding ORNANES 2021.  Full Article

Maurel et Prom announces success of offer launched by PIEP on co securities
Wednesday, 25 Jan 2017 08:09am EST 

Etablissements Maurel et Prom SA : Announces success of offer launched by PIEP (Pertamina Internasional Eksplorasi Dan Produksi) on co securities .On Feb 1, 2017 PIEP will hold total of 125,924,574 shares and voting rights of co, representing 64.46 pct of share capital and 63.35 pct of voting rights of co.  Full Article

Maurel et Prom 9 mth sales up 10 pct at 226 mln euros
Thursday, 27 Oct 2016 11:48am EDT 

Etablissements Maurel et Prom SA : Reports 9 month sales: 226 million euros ($246.1 million) versus 205 million euros, up 10 pct . 9 month onth average sale price for oil per barrel $41.0 versus $50.9 year ago .9 month barrels of oil sold 5,526,480 versus 4,026,517 year ago.  Full Article

Maurel et Prom H1 net loss narrows to 37 mln euros
Wednesday, 31 Aug 2016 01:42am EDT 

Maurel et Prom : H1 net loss of 37 million euros ($41.2 million) versus loss of 44 million euros in H1 2015 . H1 EBITDA margin stable at 40 pct . Sale of Pacifico-held M&P shares to Pertamina based on a price of 4.20 euros + 0.50 euros earn-out depending on barrel prices in 2017 . Increase in quantities produced in Gabon: +22 pct to 21,169 bopd for M&P share .Increase in gas sales in Tanzania: average of 23.7 MMcf/d in H1 2016 for M&P share.  Full Article

Pertamina finalizes acquisition of Pacifico shareholding in Maurel et Prom
Thursday, 25 Aug 2016 11:40am EDT 

Etablissements Maurel et Prom SA :Announces completion of the acquisition by Pertamina of the entire shareholding held by Pacifico in Maurel & Prom.  Full Article

Pertamina enters into an agreement to acquire all of Pacifico's Maurel & Prom shares
Monday, 1 Aug 2016 02:52am EDT 

Maurel Et Prom : Agreement between Pacifico and Pertamina . Pertamina has entered into an agreement to acquire all of Pacifico's Maurel & Prom shares for 4.20 euros per share . Deal includes eur 0.50 earn-out per share if from Jan-Dec 2017 brent price exceeds $65/bbl during all trading days within 90 consecutive calendar days .Pertamina commits itself to launch a voluntary tender offer over Maurel & Prom at same conditions than those offered for block trade.  Full Article

Maurel et Prom H1 consolidated revenue down 10 pct to 142 million euros
Wednesday, 27 Jul 2016 11:36am EDT 

Maurel Et Prom : H1 consolidated revenue 142 million euros ($156.03 million)versus 158 million euros year ago . H1 average sale price per barrel 39.2 USD versus 53.5 USD year ago .H1 barrels of oil sold 3,578,500 versus 2,948,724 year ago.  Full Article

Maurel et Prom: modification of shares parity in merger with MPI
Tuesday, 15 Dec 2015 01:28am EST 

Etablissements Maurel et Prom SA:Gives an update on merger with MPI SA: modification of shares parity.MPI board believes necessary parity of 1.5 MPI shares for 1 Maurel & Prom share, after MPI dividend pay out of 0.45 euros ($0.4960) to its shareholders.  Full Article

More From Around the Web

UPDATE 1-Gabon oil workers strike at Maurel et Prom Gabon fields - union

LIBREVILLE, Feb 23 Workers in Gabon have gone on strike at the Maurel et Prom Gabon SA oilfields halting production of 28,000 barrels per day, Sylvain Mayabi Binet, deputy secretary general of the National Organization of Petroleum Employees, said.