Activa Resources AG
Activa Resources AG announces preliminary 2012 operating results and 2013 outlook
Activa Resources AG / Key word(s): Preliminary Results 19.02.2013 / 08:30 --------------------------------------------------------------------- Corporate News 19th February 2013 Activa Resources AG announces preliminary 2012 operating results and 2013 outlook - 25% increase in oil and natural gas production revenues to approx. EUR 4.9 million in 2012 - 60% increase in EBITDA to approx. EUR 1.5 million - 4th OSR-Halliday well to be fractured on March 18 - 5th OSR-Halliday well to spud in coming weeks - 2013 outlook: further growth in revenues, reserves and profitability Bad Homburg, 19th February 2013. Activa Resources AG, an independent oil and gas company with operational knowhow in the development and efficient exploitation of oil and natural gas properties, provides the following preliminary details of its group financial performance in 2012. The company has again reported consistent growth and a major move towards profitability. Revenues from the production of oil and natural gas increased by 25% in 2012 from EUR 3.9 milllion to approx. EUR 4.9 million. Activa's net production of oil and natural gas increased a further 21 % from 106,138 BOE to approx. 128,000 BOE. This is primarily attributable to the successful third horizontal well at OSR-Halliday, Activa's main producing asset. Both oil and natural gas production rose by a similar magnitude, leaving the oil-to-gas split unchanged at approx. 40:60. 2012 EBITDA increased 50% to approx. EUR 1.5 million (vs. EUR 1.0 million in 2011). Leigh A. Hooper, Activa's CEO adds: 'Activa Resources has succesfully made the transformation from a pure explorer to a low cost producer in recent years. The company's consistent growth confirms the potential of our strategy which is based on continuing to grow and develop our main assets, especially OSR-Halliday and our waterflood projects. We are also adding new opportunities to our project portfolio. For 2013 we expect stronger growth rates in revenues, reserves, cash flows and improved profitability.' Increased drilling activity at OSR-Halliday is on schedule. Hydraulic fracturing of the 4th horizontal well is scheduled for March 18th. The 5th horizontal will spud in the coming weeks and likely go on production by mid-year. Recent activity has focussed on upgrading the field infrastructure to support significantly higher production rates and to achieve higher revenues from the produced liquid stream. In the coming months Activa will also be focussing on its two waterflood projects (Gray and Adams), both of which have significant potential from a combination of waterflooding and new wells. The Management Board About Activa Resources AG Activa Resources AG is an independent oil and gas company which focuses on the acquisition, development and exploitation of oil and natural gas properties. Activa Resources AG is listed on the Frankfurt stock exchange and is based in Bad Homburg, Germany. The company's management and technical team comprise oil industry experts with many years operational experience at major international oil companies. Further information can be found at www.activaresources.com. Contact information: Activa Resources AG Hessenring 107 61348 Bad Homburg www.activaresources.com Phone: +49 (0)6172-483 2352 FAX: +49 (0)6172-483 2353 lah@activaresources.com GFEI Aktiengesellschaft Am Hauptbahnhof 6 60329 Frankfurt www.gfei.de Phone: +49 (0)69-7430 3700 FAX: +49 (0)69-7430 3722 activa-resources@gfei.de End of Corporate News --------------------------------------------------------------------- 19.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 201715 19.02.2013
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