Nodding Donkey plc
("the Company")
Interim results for the six months ended 31 October 2014
CHAIRMAN'S STATEMENT
Since my last report to shareholders at the end of September 2014, the Company
has been proactively engaged in ensuring its pending licence applications in
Botswana are granted at the earliest opportunity. To this end, meetings with
officials at the Ministry of Mines have taken place, and we are hopeful that
one or more licences will be granted in the near future.
In line with its obligation for the acquisition of 85% of Tamboran Botswana
(Pty) Ltd, through the Company's 86.95% owned subsidiary, Equatorial Oil & Gas
plc, the Company has settled its initial payment of $10,000 to Tamboran
Resources Ltd, leaving a second and final payment of $10,000 due to Tamboran
Resources Ltd by 31 December 2015.
FINANCIALS
The financial results for the six months to 31 October 2014 show a loss after
taxation of £49,000 (2013: -£290,000).
OUTLOOK
The Company is dependent on the granting of one or more of its licence
applications in Botswana to enable it to start making meaningful progress with
its operations. We remain optimistic that progress on this front will be made
in the near future, but in the meantime we have been active in meeting
investors and stakeholders.
We remain optimistic about our future in Botswana, and look forward to
reporting progress in the coming weeks.
Conrad Windham
Chairman
29 January 2015
The directors of Nodding Donkey are responsible for the contents of this
announcement.
ENQUIRIES:
Company
Conrad Windham
020 3130 0674
Corporate Adviser
Peterhouse Corporate Finance Limited
Guy Miller and Mark Anwyl
Telephone: 020 7220 9796
Nodding Donkey plc
Profit and Loss Account
for the six months ended 31 October 2014
6 months 6 months
ended 31 ended 31
October 2014 October 2013
(unaudited) £ (unaudited)
'000 £'000
Turnover 6 (92)
Administrative expenses (55) (117)
Operating loss (49) (209)
Profit/(loss) on ordinary activities (49) (209)
before taxation
Tax on profit/(loss) on ordinary - -
activities
Profit/(loss) on ordinary activities (49) (209)
after taxation
Retained profit/(loss) for the period (49) (209)
Profit/(loss) per ordinary share (0.035p) (0.269p)
The profit and loss account has been prepared on the basis that all operations
are continuing operations. All recognised gains or losses are dealt with
through the profit and loss account. Nodding Donkey plc
Balance Sheet
as at 31 October 2014
31 October 31 October
2014 2013
(unaudited) (unaudited)
£'000 £'000
Fixed assets
Intangible 140
Current assets
Investments 1 63
Debtors 25 14
Cash at bank and in hand 45 3
71 80
Creditors: amounts falling due within one (25) (7)
year
Net current assets 46 73
Total assets less current liabilities 186 73
Net assets 186 73
Capital and reserves
Issued share capital 357 362
Share Premium 396 242
Capital Reserve 1 23
Profit and loss account (570) (554)
Minority interest 2
Equity shareholders funds 186 73
Nodding Donkey plc
Cash Flow Statement
for the six months ended 31 October 2014
6 months ended 6 months ended
31 October 2014 31 October 2013
(unaudited) (unaudited)
£'000 £'000
Net cash inflow/(outflow) from (58) (117)
operating activities
Payments to acquire investments - 1
Financing 68
Issue of ordinary share capital 100 0
(Decrease) increase in cash 42 (48)
Nodding Donkey plc
Notes to the Interim Results
1. The interim results are unaudited and do not constitute statutory accounts
within the meaning of section 240 of the Companies Act 1985 and have not been
reviewed by the Company's auditors.
2. Profit per share
The profit per share for the six months ended 31 October 2014 has been
calculated on the basis of the loss after taxation for the period of £49,000
and the weighted average number of shares in issue during the period of
139,878,320.
3. The directors do not propose to pay a dividend for the period.