RE: M&P2 Aug 2019 08:57
Consolidated results at 30 June 2019
· Robust production driving rise in EBITDA
o H1 2019 operated oil production in Gabon stands at 25,033bopd (20,026 bopd for M&P's working interest), an increase of 16% compared to H1 2018
o H1 2019 EBITDA of $137 million, up by 15% vs. H1 2018
· Strong cash position reinforces a further strengthening of balance sheet
o Cash position stands at US$361 million as of 30 June 2019
o Resilient cash flow from operating activities stands at US$173 million, used to fund operating investments of US$67 million
...
· Possible offer for Amerisur Resources Plc
On 18 July 2019, M&P made an initial proposal to the Board of Directors of Amerisur Resources Plc ("Amerisur") regarding a potential acquisition, in exchange for cash and M&P shares, of the entire issued and to be issued share capital of Amerisur. The public announcement by M&P on 22 July of this potential acquisition followed the decision announced by Amerisur on 19 July to conduct a formal sale process for the company. M&P is a participant in the formal sale process. Further information is available on the Company's website at https://www.maureletprom.fr. M&P will make further announcements in due course.