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KUWAIT ENERGY PLC
NOTES TO THE CONDENSED SET OF FINANCIAL STATEMENTS
For the nine month period ended 30 September 2016
9
3. SEGMENTAL INFORMATION (CONTINUED)
Egypt
Iraq
Yemen
Others
Total
US$ 000’s US$ 000’s
US$ 000’s
US$ 000’s
US$ 000’s
31 December 2015 (Audited)
Segment revenues
146,774
-
8,868
-
155,642
Segment operating profit/(loss)
(5,498)
8,533
(34,338)
(9,715)
(41,018)
Share of results of Joint Venture
-
-
-
445
445
Fair value loss on convertible loans
(9,261)
Other income
1,231
Foreign exchange loss
(1,851)
Finance costs
(9,654)
Loss before tax
(60,108)
Taxation charges
(2,259)
Loss for the year
(62,367)
Segment assets
288,959
401,718
86,198
83,547
860,422
E&E assets
11,792
-
20,871
-
32,663
PP&E
202,805
371,467
45,764
1,535
621,571
Segment liabilities
48,210
52,878
22,828
381,585
505,501
Other information:
Exploration expenditure written off
2,590
-
11,628
-
14,218
Impairment of oil and gas assets
35,810
24,656
8,544
-
69,010
Additions to E&E
8,037
-
2,705
-
10,742
Additions to PP&E
59,532
163,113
(410)
30
222,265
Depreciation, Depletion and
Amortisation
62,869
-
5,213
1,065
69,147
4.
(LOSS)/EARNINGS PER SHARE
The calculation of basic (loss)/earnings per share is based on the loss for the period after taxation attributable to owners
of the Company of USD 12.4 million (30 September 2015: profit of USD 15.5 million, 31 December 2015: USD 62.2
million) and a weighted average number of shares, net of treasury shares, of 326.6 million (30 September 2015: 326.1
million, 31 December 2015: 326.1 million).
There was no difference between basic and diluted (loss)/earnings per share for any of the periods shown. The only
potential dilutive instruments were the outstanding Employee Incentive Scheme (EIS) share awards, which have no
material dilution impact on earnings per share, together with shares to be issued on conversion of convertible loan
which are not included in the calculation for either period as the number of shares that could be exercised is dependent
on certain future events.