Pakistan Oilfields Limited’s financial results for the half year ended December 31, 2012

Karachi, January 28, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held on January 28, 2013 at 1100 hours at Dubai have recommended the following:

1. Cash Dividend

An Interim Cash Dividend for the half year ended December31, 2012 at Rs. 20 per share (Rupees twenty only) i.e. 200 %.

ii. Bonus Share

It has been recommended by the Board of Directors to issue Interim bonus shares in proportion of Nil shares for every Nil shares held i.e. Nil %.

iii. Right Shares

The Board has recommended issuing Nil % Right Shares.

The above entitlement will be paid to the shareholders whose names will appear in the register of member on March 12, 2013.

Book Closure

The Share Transfer Books of the Company will be closed from March 13, 2013 to March 19, 2013 (both days inclusive). Transfers received at registered address of the Company ” Pakistan Oilfields Limited (POL) POL House, Rawalpindi” at the close of business March 12, 2013. We will be treated in time for the purpose of above entitlement to the transferees.

Condensed Interim Profit and Loss Account (Unaudited) for the Six Months Period Ended December 31, 2012.

Three months period endedSix months period ended
December 31December 31,December 31,December 31,
2012201120122011
Rs (‘000)Rs (‘000)
Sales

7,646,951

7,767,844

14,801,319

15,648,997

Less: Sales tax

(549,171)

(573,686)

(1,057,528)

(1,126,669)

———

———

———-

———-

Net Sales

7,097,780

7,194,158

13,743,791

14,522,328

Operating costs

(1,824,531)

(1,657,159)

(3,468,467)

(3,003,775)

Excise duty and development surcharge

(68,052)

(82,738)

(138,287)

(164,389)

Royalty

(644,271)

(657,090)

(1,285,247)

(1,361,392)

Amortisation of development
and decommissioning costs

(452,790)

(731,999)

(904,086)

(1,025,010)

———

———

———-

———-

(2,989,644)

(3,128,986)

(5,796,087)

(5,554,566)

———

———

———-

———-

Gross Profit

4,108,136

4,065,172

7,947,704

8,967,762

Exploration costs

(518,034)

(57,899)

(719,108)

(132,057)

———

———

———-

———-

3,590,102

4,007,273

7,228,596

8,835,705

Administration expenses

(17,412)

(34,744)

(39,280)

(48,992)

Finance cost

(242,406)

(151,749)

(375,902)

(263,082)

Other charges

(299,162)

(341,630)

(566,471)

(694,788)

———

———

———-

———-

(558,980)

(528,123)

(981,653)

(1,006,862)

———

———

———-

———-

3,031,122

3,479,160

6,246,943

7,828,843

Other operating income

970,099

1,129,649

1,362,879

1,559,935

———

———

———-

———-

Profit before Taxation

4,001,221

4,608,799

7,809,822

9,388,778

Provision for taxation

(903,588)

(1,894,578)

(1,946,328)

(3,219,578)

———

———

———-

———-

Profit for the Period

3,097,633

2,714,221

5,663,494

6,169,200

———

———

———-

———-

Earnings per share
- Basic and diluted (Rupees)

13.10

11.47

23.94

26.08

For more information, contact:
Syed Khalid Nafees Zaidi
Company Secretary
Pakistan Oilfields Limited
P.O.L. House, Morgah,
Rawalpindi 46600 Pakistan
Tel: +92-51-5487589-97(9 Lines)
Telefax: +92-51-5487598-99(2 Lines)
Email: polcms@isb.paknet.com.pk
Web: www.pakoil.com.pk

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