Kina Petroleum Limited Announces Audited Earnings Results for the Year Ended December 31, 2015
Kina Petroleum Limited announced audited earnings results for the year ended December 31, 2015. For the period, the company reported total revenue of USD 135,449, down 34.7% from USD 207,290 in the previous year. Loss before income tax was USD 3,088,936 compared to USD 3,259,818 a year ago. Loss after Income tax attributable to members of the parent entity was USD 3,088,936 compared to USD 3,259,818 a year ago. Total comprehensive loss for the year attributable to owners of the parent entity was USD 3,195,521 compared to USD 3,256,351 a year ago. Diluted loss per share was 0.96 cents compared to 1.28 cents a year ago. Net cash used In operating activities was USD 2,447,933 compared to USD 2,827,165 a year ago. Exploration and evaluation expenditure was USD 1,157,405 compared to USD 1,953,329 a year ago. Development expenditure was USD 1,290,769 compared to USD 1,309,247 a year ago. Acquisition of plant and equipment was USD 2,798 compared to USD 2,928 a year ago.