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18
For the nine months period ended March 31, 2017
Selected notes to and forming part of the Condensed Interim
Financial Information (Unaudited)
15. Cash and bank balances
8,572,053
2,101,182
16,190
10,689,425
2,194
10,691,619
16. Net sales
3,369,739
8,963,691
2,526,746
6,937,323
1,682,720
4,418,856
31,820
96,056
-
-
7,611,025
20,415,926
16.1
Bank balance on:
Short term deposits
9,082,080
Interest / mark-up bearing saving accounts
1,551,667
Current account
127,124
10,760,871
Cash in hand
2,930
10,763,801
Balance with banks include foreign currency balances of US $ 65,213 thousand (June 30, 2016:
US $ 67,174 thousand).
Crude oil
1,898,282
7,050,480
Gas - note 16.1
2,988,432
7,117,563
POLGAS - Refill of cylinders
1,386,459
4,236,795
Solvent oil
44,713
151,347
Sulphur
-
4,861
6,317,886
18,561,046
The Company has signed the Supplemental Agreements with the Government of
Pakistan (the Government) for conversion of Petroleum Concession Agreements
(PCA) to PetroleumExploration & Production Policy 2012 in respect of Ikhlas, DGKhan,
Kirthar South, Margala, Margala North, Gurgalot and Tal Block. Price regimes prevailing
in Petroleum Policy 2007, Petroleum Policy 2009 and Petroleum Policy 2012 shall be
applicable correlated with the spud date of wells in the respective policies starting from
November 27, 2007 and for future exploratory efforts under the above mentioned
blocks.
In terms of supplemental agreements, draft statements specifying sums aggregating
US $ 34.39 million till June 30, 2015 due to the Company in respect of Mamikhel,
Maramzai & Makori East discoveries in TAL block and Domial discovery in Ikhlas block
have been submitted to the Government. The Government shall facilitate issuance of
necessary gas price notifications and payments to be made to the parties within twelve
months of the statements being finalized. Effect of adjustment arising from revision in
sale price will be recognised upon finalization of the statements and issuance of gas
price notifications by the Government.
Nine months period ended
Three months period ended
Rupees ('000)
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2017
Jun. 30, 2016
Rupees ('000)