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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED BALANCE SHEET
As at 30 September 2017
6
30 September 31 December
2017
2016
Unaudited
Audited
Notes
US$ 000’s
US$ 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
6
26,560
27,692
Property, plant and equipment
7
542,953
509,369
Investment in joint venture
4,942
4,424
Other non-current assets
10
32,200
4,991
606,655
546,476
Current assets
Inventories
24,360
23,709
Trade and other receivables
8
146,023
94,983
Cash and cash equivalents
9
43,165
58,311
Assets classified as held for sale
10
-
126,144
213,548
303,147
Total assets
820,203
849,623
EQUITY AND LIABILITIES
Equity
Share capital
519,115
560,852
Share premium
181,826
205,929
Other reserves
(39,022)
(105,567)
Retained deficit
(414,860)
(426,582)
Equity attributable to owners of the Company
247,059
234,632
Non-controlling interest
4,387
4,437
Total equity
251,446
239,069
Non-current liabilities
Borrowings
246,102
244,860
Convertible loans
11
-
117,198
Obligations under finance leases
2,174
2,937
Provisions and other non-current liabilities
15,475
15,549
Deferred tax liabilities
955
463
264,706
381,007
Current liabilities
Trade and other payables
12
125,306
144,368
Current tax payable
5,090
2,473
Crude oil prepayments
17,469
40,000
Convertible loans
11
155,017
19,075
Obligations under finance leases
1,169
1,169
Liabilities directly associated with assets classified as held for sale
10
-
22,462
304,051
229,547
Total liabilities
568,757
610,554
Total equity and liabilities
820,203
849,623
The condensed set of financial statements were approved by the board of directors and authorised for issued on 8
December 2017. They were signed on its behalf by:
Manssour Aboukhamseen
Executive Chairman