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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED BALANCE SHEET
As at 30 June 2015
7
30 June 2015
Unaudited
31 December
2014
Audited
Notes
USD 000’s USD 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
7
42,631
46,488
Property, plant and equipment
8
613,648
522,537
Investment in Joint Venture
9
7,869
8,138
Other non-current assets
4,102
5,141
668,250
582,304
Current assets
Inventories
23,678
21,642
Trade and other receivables
10
95,318
115,589
Liquid investments
11
50,000
-
Cash and cash equivalents
11
113,063
215,992
282,059
353,223
Total assets
950,309
935,527
EQUITY AND LIABILITIES
Equity
Share capital
559,835
557,808
Share premium
205,491
204,760
Other reserves
(106,389)
(106,609)
Retained deficit
(258,080)
(248,217)
Equity attributable to owners of the Company
400,857
407,742
Non-controlling interest
5,790
8,770
Total equity
406,647
416,512
Non-current liabilities
Borrowings
12
242,457
242,459
Convertible loans
13
121,229
111,740
Long-term provisions
15,784
15,697
379,470
369,896
Current liabilities
Trade and other payables
14
161,531
133,653
Current tax payable
921
9,377
Current portion of convertible loans
13
1,740
6,089
164,192
149,119
Total liabilities
543,662
519,015
Total equity and liabilities
950,309
935,527
The condensed set of financial statements were approved by the board of directors and authorised for issue on 5 November
2015. They were signed on its behalf by:
Manssour Aboukhamseen
Chairman & Managing Director