OIL AND GAS DEVELOPMENT COM

Income Statement
For the year ended 30 June 201
Particular
Sales -net
Royality
Operating Expenses
Transportation Charges
Total cost(6+7+8)
Gross profit

Other income
Exploration and prospecting expenditure
General and administration expenses
Finance cost
Workers’ profit participation fund
Share of profit in associate - net of taxation

Profit before taxation(10+11-13-14-15-16+17)

Taxation
Profit for the year
Earnings per share - basic and diluted (Rupees)

Profit for the year

Other comprehensive income/(loss) for the year
Items that will not be reclassified to profit or loss:
Remeasurement loss on employee retirement benefit plans
Current tax credit related to remeasurement gain/ loss on employee retirement benefit plans
Share of other comprehensive loss of the associate - net of taxation
 OIL AND GAS DEVELOPMENT COMPANY LIMITED
Income Statement
For the year ended 30 June 2018
Notes

ges

pecting expenditure
ration expenses

cipation fund
ociate - net of taxation

(10+11-13-14-15-16+17)

basic and diluted (Rupees)

income/(loss) for the year

reclassified to profit or loss:
on employee retirement benefit plans
elated to remeasurement gain/ loss on employee retirement benefit plans
rehensive loss of the associate - net of taxation
TED

2018 2017
205,335,000 171,829,364
21,970,947 18,518,982
60,213,460 56,585,214
1,670,850 1,720,982
83,855,257 76,825,178
121,479,743 95,004,186

16,008,118 16,020,333
16,190,496 13,268,575
4,087,862 4,239,642
1,729,886 1,514,634
5,927,724 4,691,445
3,074,868 1,827,239

112,626,761 89,137,462
33,890,466 25,334,060
78,736,295 63,803,402
18.31 14.83

78,736,295 63,803,402

625,359 7,300,321
339,945 3,656,731
18,369 434
78,432,512 60,159,378

0
 Notes 2018 2017

SHARE CAPITAL AND RESERVES

Share capital 43,009,284 43,009,284

Reserve 13,366,622 12,093,287

Unappropriated profit 494,180,516 457,881,766
550,556,422 512,984,337
Non current liability
Deferred taxation 19,980,119 19,638,412
Deferred employee benefits 21,280,694 19,026,984
Provision for decommissioning cos 19,465,075 22,027,796
60,725,888 60,693,192
CURRENT LIABILITIES
Trade and other payables 36,705,914 39,170,859
Unpaid dividend 18,169,267 13,862,361
Unclaimed dividend 319,706 577,224
55,194,887 53,610,444

666,477,197 627,287,973
 OIL AND GAS DEVELOPMENT COMPANY LIMITED
Balance Sheet
As on 30-June,2019
2016

43,009,284

10,529,373
425,093,910
478,632,567

15,579,499
14,971,638
21,412,687
51,963,824

46,328,588
12,439,784
200,776
58,969,148

589,565,539
 Notes 2018
NON CURRENT ASSETS
Property, plant and equipment 124,063,611
Development and production assets - intangible 94,403,553
Exploration and evaluation assets 6,525,579
224,992,743

Long term investments 27,617,446

Long term loans and receivable 7,344,145
Long term prepayments 664,958
35,626,549
CURRENT ASSETS
Stores, spare parts and loose tools 17,984,525
Stock in trade 346,829
Trade debts 163,691,820
Loans and advances 17,300,931
Deposits and short term prepayments 1,339,343
Other receivables 452,987
Income tax - advance 37,278,361
Current portion of long term investments 95,957,967
Other financial assets 67,834,662
Cash and bank balances 3,670,480
405,857,905
666,477,197
2017 2016

128,336,018 120,542,404
95,159,850 87,990,960
10,996,011 6,834,078
234,491,879 215,367,442

42,665,810 112,517,292
6,817,374 5,997,669
852,691 882,466
50,335,875 119,397,427

18,442,847 18,251,184
376,390 291,904
118,574,468 111,204,186
14,079,704 10,459,609
1,557,439 1,646,777
440,997 182,211
49,601,329 41,599,042
123,932,250 51,835,027
11,295,722 11,426,964
4,159,073 7,903,766
597,260,889 254,800,670
882,088,643 589,565,539
 OIL AND GAS DEVELOPMENT COMPAN
Cash Flows Statement
As on 30-june-2018

Notes
Cash flows from operating activities
Profit before taxation
Adjustments for:
Depreciation
Amortization of development and production assets
Royalty
Workers’ profit participation fund
Provision for employee benefits
Decommissioning cost
Un-winding of discount on provision for decommissioning cost
less: Reversal due to change in decommissioning cost estimates
less: Interest income
Un-realized loss/ (gain) on investments at fair value through profit or loss
less: Exchange (gain)/ loss on foreign currency investment and deposit accounts
less: Dividend income
less:(Gain)/ loss on disposal of property, plant and equipment
less:Provision for slow moving, obsolete and in transit stores
Stores inventory written of
less:Share of profit in associate

Changes in:
Stores, spare parts and loose tools
Stock in trade
Trade debts
Deposits and short term prepayments
Advances and other receivables
Trade and other payables
Cash generated from operations
Royalty paid
Employee benefits paid
Long term prepayments
Payment from self insurance reserve
Decommissioning cost paid
Payments to workers’ profit participation fund-net
Income taxes paid
Net cash from operating activities
Cash flows from investing activities
Capital expenditure
Interest received
Dividends received
Encashment of investments
Purchase of investments
Proceeds from disposal of property, plant and equipment
Net cash generated from/ (used in) investing activities
Cash flows from financing activities
Dividends paid
Net cash used in financing activities
Net increase/ (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Efect of movements in exchange rate on cash and cash equivalents
Cash and cash equivalents at end of the year
VELOPMENT COMPANY LIMITED
Cash Flows Statement
As on 30-june-2018
2018 2017
PKR "000"

112,626,761 89,137,462

10,558,188 9,021,395
15,910,719 13,900,593
21,970,947 18,518,982
5,927,724 4,691,445
4,380,003 4,870,101
90,790 650,762
1,722,384 1,506,604
1,173,102
10,984,022 (12,420,725)
44,904 (84,404)
3,079,506 4,039
20,431 (20,431)
59,445 42,020
19,618 178,721
421,200
3,074,868 (1,827,239)
155,242,628 128,169,325

56,740 (370,384)
29,561 (84,486)
(45,117,352) (7,370,282)
218,096 89,338
(3,587,712) (4,698,586)
1,432,270 (1,948,329)
108,274,231 113,786,596
(19,279,507) (20,397,735)
(10,471,443) (11,030,291)
187,733 29,775
(1,607) (2,036)
(296,202) (1,357,317)
(7,391,445) (7,637,231)
(20,885,846) (25,620,703)
50,135,913 47,771,058
 (17,491,305) (39,805,463)
8,649,210 12,312,637
145,069 131,949
50,809,086
(2,519,766) (422,366)
96,970 (27,720,813)
39,689,264 (55,504,056)

(36,809,433) (24,006,545)
(36,809,433) (24,006,545)
53,015,744 (3,956,300)
15,074,591 19,034,930
3,079,506 (4,039)
71,169,841 15,074,591