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Pantheon Resources Plc
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=== Full-year results === ==== Profit and loss ==== {| class="wikitable" |+Profit and loss !Year !2018<ref name=":6">https://www.pantheonresources.com/investors/financial-reports/648-pantheon-resources-annual-report-and-financial-statements-year-ended-30-june-2019/file</ref> !2019<ref name=":7">https://www.pantheonresources.com/investors/financial-reports/654-final-results-for-the-year-ended-june-2020/file</ref> !2020 (restated)<ref name=":8">https://www.pantheonresources.com/investors/financial-reports/660-final-results-for-the-year-ended-30-june-2020/file</ref> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- | colspan="6" |Continuing operations |- |Revenue |1,009,570 |724,589 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Production royalties |(244,783) |(205,458) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Depletion of developed oil & gas assets |(88,293) |(148,485) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Cost of sales |(562,986) |(737,208) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Gross profit/(loss) |113,508 |(366,562) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Administration expenses |(1,922,917) |(3,438,239) |(3,667,635) |(5,034,361) |(7,430,653) |- |General & Administrative expenses – Vision |<nowiki>-</nowiki> |(1,744,730) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of exploration & evaluation assets |(6,805,537) |(34,138,156) |(130,112) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Share Based payments expense |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(3,211,038) |(8,256,575) |- |Impairment of developed oil & gas assets |<nowiki>-</nowiki> |(13,092,684) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of property plant and equipment |<nowiki>-</nowiki> |(1,397,950) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of Goodwill |<nowiki>-</nowiki> |(796,236) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Depreciation of production & pipeline facilities |(145,516) |(275,665) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Operating loss |(8,760,462) |(55,250,222) |(3,797,747) |(8,245,400) |(15,687,228) |- |Convertible Bond - Interest Expense |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(4,640,537) |- |Convertible Bond - Revaluation of Derivative Liability |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |4,310,773 |- |Gain on bargain purchase |<nowiki>-</nowiki> |100,757,286 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Less: deferred tax thereon |<nowiki>-</nowiki> |(28,783,396) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Interest receivable |6,858 |25,781 |23,759 |4,234 |42,674 |- |Loss before taxation |(8,753,604) |16,749,449 |(3,773,988) |(8,241,165) |(15,974,318) |- |Taxation |<nowiki>-</nowiki> |18,757,633 |965,681 |1,573,094 |2,022,334 |- |Loss for the year from Continuing Operations after Taxation |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2,808,307) |(6,668,071) |(13,951,984) |- |Loss for the year from discontinued operations |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(14,170,288) |(54,415) |<nowiki>-</nowiki> |- |Loss for the year |(8,753,604) |35,507,082 |(16,978,595) |(6,722,487) |(13,951,984) |- |Other comprehensive income for the year Exchange differences from translating foreign operations |277,183 |(179,284) |(47,800) |1,503,199 |(741,484) |- |Total comprehensive loss for the year |(8,476,421) |35,327,798 |(17,026,395) |(5,219,288) |(14,693,468) |- | colspan="6" |Loss per share from continuing operations: |- |Basic and diluted loss per share |(3.72)¢ |10.54¢ |(0.56)¢ |(1.17)¢ |(1.93)¢ |- | colspan="6" |Loss per share from discontinued operations: |- |Basic and diluted loss per share |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2.83)¢ |(0.01)¢ |<nowiki>-</nowiki> |} ==== Balance sheet ==== {| class="wikitable" |+Balance sheet ! !2018<ref name=":6" /> !2019<ref name=":7" /> !2020<ref name=":8" /> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- | colspan="6" |Assets |- | colspan="6" |Non-current assets |- |Exploration & evaluation assets |43,498,422 |160,887,260 |156,097,609 |188,954,719 |237,722,294 |- |Developed oil & gas assets |13,736,007 |6,961,445 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Property, plant and equipment |2,237,698 |2,494,464 |658,898 |30,308 |91,691 |- |Total non-current assets |59,472,127 |170,343,169 |156,756,507 |188,985,027 |237,813,985 |- | colspan="6" |Current assets |- |Trade and other receivables |700,939 |1,843,649 |74,167 |109,876 |2,498,447 |- |Cash and cash equivalents |3,399,290 |1,853,986 |4,802,965 |5,663,477 |57,784,121 |- |Total current assets |4,100,229 |3,697,635 |4,877,132 |5,773,353 |60,282,568 |- |Total assets |63,572,356 |174,040,804 |161,633,639 |194,758,380 |298,096,553 |- | colspan="6" |Liabilities |- | colspan="6" |Current liabilities |- |Convertible Bond – Debt |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |10,001,704 |- |Trade and other payables |316,976 |1,410,347 |388,092 |1,107,090 |6,377,986 |- |Provisions |<nowiki>-</nowiki> |1,335,863 |1,335,863 |1,250,000 |5,285,440 |- |Lease Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |46,311 |32,788 |60,297 |- |Other Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |1,964,441 |- |Deferred tax liability |<nowiki>-</nowiki> |10,025,763 |5,293,296 |3,705,737 |1,683,403 |- |Total current liabilities |316,976 |12,771,973 |7,063,562 |6,095,615 |25,373,271 |- | colspan="6" |Non-current liabilities |- |Lease Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |27,914 |<nowiki>-</nowiki> |30,004 |- |Convertible Bond – Debt |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |20,474,664 |- |Convertible Bond – Derivative |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |12,816,226 |- |Total non-current liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |27,914 |<nowiki>-</nowiki> |33,320,894 |- |Total liabilities |316,976 |12,771,973 |7,091,476 |6,095,615 |58,694,166 |- |Net assets |63,255,380 |161,268,831 |154,542,163 |188,662,765 |239,402,388 |- | colspan="6" |Equity |- | colspan="6" |Capital and reserves |- |Share capital |3,852,673 |7,966,075 |8,568,721 |9,739,203 |10,720,459 |- |Share premium |106,678,805 |164,044,720 |173,687,092 |208,683,936 |264,879,196 |- |Retained losses |(48,137,398) |(12,630,316) |(29,608,911) |(36,331,398) |(48,466,591) |- |Currency reserve |(41,554) |(220,838) |(268,637) |1,234,562 |493,078 |- |Share based payment reserve |902,854 |2,163,898 |2,163,898 |5,336,462 |11,776,246 |- |Non controlling interests |<nowiki>-</nowiki> |(54,708) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Shareholders’ equity |63,255,380 |161,268,831 |154,542,163 |188,662,765 |239,402,388 |} ==== Cash flow ==== {| class="wikitable" |+Cash flow !Year !2018<ref name=":6" /> !2019<ref name=":7" /> !2020<ref name=":8" /> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- |Net outflow from operating activities |(2,082,803) |(5,513,085) |(5,707,802) |(3,098,495) |(941,506) |- | colspan="6" |Cash flows from investing activities |- |Interest received |6,858 |25,781 |25,881 |4,295 |42,674 |- |Funds used for drilling, exploration and leases |(10,679,594) |(10,579,750) |(1,591,591) |(24,973,399) |(45,267,175) |- |Developed oil & gas assets |(495,183) |(523,934) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Decommissioning Provision (Exploration & Evaluation) |<nowiki>-</nowiki> |676,464 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Decommissioning Provision (Developed Oil & Gas Assets) |<nowiki>-</nowiki> |409,400 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Advance for Performance Bond |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2,400,000) |- |Property, plant and equipment |208,682 |(312,637) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(3,368) |- |Acquisition of a subsidiary (Great Bear), net of cash acquired |<nowiki>-</nowiki> |(6,098,215) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Acquisition of a subsidiary, (Vision Resources LLC) net of cash acquired |<nowiki>-</nowiki> |1,920 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Disposal |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(1,134) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Net cash outflow from investing activities |(10,959,237) |(16,400,971) |(1,566,844) |(24,969,105) |(47,627,869) |- | colspan="6" |Cash flows from financing activities |- |Proceeds from share issues |12,596,484 |21,259,057 |10,816,383 |30,181,084 |46,739,796 |- |Issue costs paid in cash |(537,360) |(890,304) |(571,364) |(1,197,275) |(994,694) |- |Proceeds from Convertible Bond |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |55,000,000 |- |Repayment of borrowing and leasing liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(21,394) |(55,698) |(55,083) |- |Net cash inflow from financing activities |12,059,124 |20,368,753 |10,223,625 |28,928,111 |100,690,020 |- |Increase in cash & cash equivalents |(982,916) |(1,545,304) |2,948,979 |860,511 |52,120,645 |- |Cash and cash equivalents at the beginning of the year |4,382,206 |3,399,290 |1,853,986 |4,802,965 |5,663,476 |- |Cash and cash equivalents at the end of the year |3,399,290 |1,853,986 |4,802,965 |5,663,476 |57,784,121 |}
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