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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED BALANCE SHEET
As at 31 March 2017
4
31 March 31 December
2017
2016
Unreviewed
Audited
Notes
US$ 000’s
US$ 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
6
27,726
27,692
Property, plant and equipment
7
529,266
509,369
Investment in joint venture
4,874
4,424
Other non-current assets
5,020
4,991
566,886
546,476
Current assets
Inventories
24,309
23,709
Trade and other receivables
8
108,069
94,983
Cash and cash equivalents
9
27,200
58,311
Assets classified as held for sale
10
130,888
126,144
290,466
303,147
Total assets
857,352
849,623
EQUITY AND LIABILITIES
Equity
Share capital
561,027
560,852
Share premium
206,044
205,929
Other reserves
(105,358)
(105,567)
Retained deficit
(414,946)
(426,582)
Equity attributable to owners of the Company
246,767
234,632
Non-controlling interest
4,421
4,437
Total equity
251,188
239,069
Non-current liabilities
Borrowings
245,248
244,860
Convertible loans
118,390
117,198
Obligations under finance leases
2,685
2,937
Provisions and other non-current liabilities
15,182
15,549
Deferred tax liabilities
738
463
382,243
381,007
Current liabilities
Trade and other payables
11
140,938
144,368
Current tax payable
4,527
2,473
Crude oil prepayment
40,000
40,000
Convertible loans
19,511
19,075
Obligations under finance leases
1,169
1,169
Liabilities directly associated with assets classified as held for sale
10
17,776
22,462
223,921
229,547
Total liabilities
606,164
610,554
Total equity and liabilities
857,352
849,623
Manssour Aboukhamseen
Executive Chairman
15 June 2017