Bangkok--Apr 27--PTT
PTT Exploration and Production Public Company Limited (PTTEP) and its subsidiaries announced unreviewed financial results for the first quarter ended March 31, 2005.
Mr. Maroot Mrigadat (มารุต มฤคทัต), PTTEP President disclosed that PTTEP and its subsidiaries had a net profit of 4,254 million baht. This was an increase of 876 million baht or 6.50 baht per share-diluted or 26% from 3,378 million baht or 5.17 baht per share-diluted in the same quarter of last year.
The total revenues went up to 13,528 million baht from 10,658 million baht in the same quarter of last year, an increase of 27% or 2,870 million baht.
Attributing to the higher income was the sales volume which went up to 142,685 barrels of oil equivalent per day (BOED) or 10%, mainly from natural gas and condensate of Bongkot, Pailin and Yetagun projects, compared with 129,187 BOED from the same quarter of last year. Another factor was the average sales price which was 25.42 USD/BOE compared to 21.76 USD/BOE in the same period last year.
The total expenses of PTTEP and its subsidiaries rose by 922 million baht to 5,712 million baht from the 4,790 million baht incurred in same quarter of last year partly because of the higher petroleum royalties and costs of seismic surveys which raised exploration expenses.
As of March 31, 2005, PTTEP and its subsidiaries had total assets amounting to 118,505 million baht, an increase of 6,560 million baht from the end of last year. The total liabilities stood at 57,192 million baht, an increase of 2,346 million baht from the end of 2004 due to higher income taxes.
For more information, please contact
Sidhichai Jayant/Tongchit Wattanametee
External Relations Department
Tel. +66 (02) 537 4592, 537 4587 End.