Annual Report 2005 (6 MB) - Lundin Petroleum
Annual Report 2005 (6 MB) - Lundin Petroleum
Annual Report 2005 (6 MB) - Lundin Petroleum
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PRODUCTION (BOEPD)<br />
40,000<br />
30,000<br />
20,000<br />
10,000<br />
0<br />
02 03 04<br />
RESULTS<br />
05<br />
<strong>2005</strong> HIGHLIGHTS<br />
■ Average production increased to 33,190 boepd (28,921 boepd)<br />
■ Operating income increased to MSEK 4,190.2 (MSEK 2,468.3)<br />
■ Net profi t (profi t after tax) increased to MSEK 994 (MSEK 605.3)<br />
■ Operating cash fl ow increased to MSEK 2,627.4 (MSEK 1,502.8)<br />
■ EBITDA of MSEK 2,782.6 (MSEK 1,281.5)<br />
■ Diluted earnings per share was SEK 3.87 (SEK 2.37)<br />
■ Debt/equity ratio was 9% (45%)<br />
2004 in in brackets<br />
OPERATIONS<br />
1,000<br />
750<br />
500<br />
250<br />
PROFIT (MSEK) 1)<br />
■ Proved and probable reserves increased by 12%<br />
■ Broom Phase 2 successfully completed<br />
■ New exploration licences awarded in the United Kingdom and Norway<br />
■ Ongoing development of the Alvheim fi eld in Norway and the Oudna<br />
fi eld in Tunisia<br />
■ Increased global market price for oil and gas<br />
OUTLOOK 2006<br />
■ Capital budget for development and exploration over MUSD 300<br />
■ Active global exploration programme<br />
- 15 wells planned<br />
- Seismic acquisition programmes in United Kingdom and Sudan<br />
■ Ongoing development projects<br />
- Alvheim, off shore Norway<br />
- Oudna, off shore Tunisia<br />
- TBA, off shore Salawati Island Indonesia<br />
■ Further infi ll drilling in the UK North Sea<br />
0<br />
02 03 04<br />
05<br />
1) Adjusted to exclude sale of assets<br />
3,000<br />
2,000<br />
1,000<br />
0<br />
EBITDA (MSEK)<br />
02 03 04 05<br />
CASH FLOW (MSEK)<br />
3,000<br />
2,000<br />
1,000<br />
0<br />
02 03 04 05
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