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34
Selected notes to and forming part of the Condensed Interim
Consolidated Financial Information (Unaudited)
For the nine months period ended March 31, 2017
17. Cash and bank balances
2,152,016
8,572,053
16,819
10,740,888
2,268
10,743,156
18. Net sales
3,369,739
8,963,691
2,526,746
6,937,323
1,846,807
4,916,845
31,820
96,056
-
-
7,775,112
20,913,915
18.1
Bank balance on:
Interest/mark-up bearing saving accounts
1,617,147
Short term deposits
9,117,080
Current accounts
127,505
10,861,732
Cash in hand
2,961
10,864,693
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 18.1
2,988,432
7,117,563
POLGAS/CAPGAS - Refill of cylinders
1,559,140
4,808,973
Solvent oil
44,713
151,347
Sulphur
-
4,861
6,490,567
19,133,224
The Company has signed the Supplemental Agreements with the Government of
Pakistan (the Government) for conversion of PetroleumConcessionAgreements (PCA)
to Petroleum Exploration & Production Policy 2012 in respect of Ikhlas, DG Khan,
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.
Mar. 31, 2017
Jun. 30, 2016
Rupees ('000)
Nine months period ended
Three months period ended
Rupees ('000)
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2016
Mar. 31, 2017