D Resources Inc. Persta Resources Inc. (根據阿蘭伯塔法律註冊成立的有限公司) 股份代號：3395 ==== FIC hk PERST 2021 中期報告 Career State 關於 Persta Resources Inc. Persta Resources Inc.為位於卡加利 的油氣勘探開發公司，專注於在加 拿大西部三個核心運營區域勘探開 發富液化天然氣及輕質原油，當中 包 括：Alberta Foothills的富液化天 然氣礦產；Peace River的輕質原油 礦產及Progress-Montney礦產 目錄 2 公司資料 4 財務及經營摘要 5 管理層討論及分析 27 其他資料 34 簡明中期財務狀況表 35 簡明中期虧損及全面虧損表 36 簡明中期股東權益變動表 37 簡明中期現金流量表 38 簡明中期財務報表附註 公司資料 董事會 執行董事 王平在先生 柳永坦先生 獨立非執行董事 Richard Dale Orman先生 Peter David Robertson先生 Larry Grant Smith先生 聯席公司秘書 Jesse David Me ...

Financial Performance - Production revenue for the year ended December 31 was CAD 13,269 million, a decrease of 2.6% from CAD 13,627 million in the previous year[10] - The company reported a net loss of CAD (21,851) million for the year, compared to a loss of CAD (50,466) million in the previous year, indicating a 56.7% improvement[14] - The company’s net operating income was CAD 1,652 million, a decrease of 60.9% from CAD 4,217 million in the previous year[14] - Basic and diluted loss per share improved to CAD 0.07 from CAD 0.17 in the previous year, reflecting a 58.8% reduction in losses[14] - The company’s total equity decreased to CAD 5,161 million from CAD 23,668 million, indicating a significant decline in shareholder value[10] - The company recorded a net loss of CAD 21,851 thousand in 2020, compared to a loss of CAD 7,279 thousand in 2019[66] - The company reported a total comprehensive loss of CAD 13.0 million for the year ended December 31, 2020, a 62% decrease compared to CAD 34.7 million in 2019[128] Production and Sales - Average daily sales increased by 18% to 2,631 barrels of oil equivalent per day compared to 2,226 barrels per day in the previous year[10] - Proven reserves as of December 31 totaled 5,053 thousand barrels of oil equivalent, with natural gas comprising 94% of the total[18] - The total proven and probable reserves increased to 7,219 thousand barrels of oil equivalent from 6,379 thousand barrels in the previous year[18] - The average daily natural gas production in 2020 was 13,341 Mcf/day, a decrease of 10.5% from 2019's 10,465 Mcf/day[66] - The total production (boe/day) for 2020 was 2,363 boe/day, compared to 1,907 boe/day in 2019, marking a 24% increase[66] - Total production reached 2,544 barrels of oil equivalent per day, up 17% from the previous year[92] - Oil production for the year fell by 43% to 849 thousand barrels due to the suspension of production in response to COVID-19[92] Capital Expenditures and Assets - Capital expenditures for the year were CAD 1,932 million, up from CAD 1,315 million in the previous year[14] - Total assets decreased to CAD 44,667 million from CAD 59,064 million, while total liabilities increased slightly to CAD (39,506) million from CAD (35,395) million[10] - The company's total assets decreased from CAD 54.4 million in 2019 to CAD 40.0 million in 2020, reflecting a significant reduction in equity[131] - Capital expenditures in 2020 amounted to CAD 1,932 thousand, a significant decrease from CAD 5,415 thousand in 2019[66] Operating Costs and Expenses - Operating costs for 2020 were CAD 10,874 thousand, an increase of 93% compared to CAD 5,353 thousand in 2019[66] - Operating costs surged by 149% to (3,756) million[200] - General and administrative expenses totaled CAD 3,146 million for the year ended December 31, 2020, down 25% from CAD 4,191 million in 2019[105] - The average operating cost per barrel of oil equivalent was CAD 12.57 for the year ended December 31, 2020, consistent with CAD 12.27 in 2019[105] Financing and Debt - The company plans to raise a total of HKD 56 million (approximately CAD 8.96 million) through a conditional placement of 20 million shares at HKD 0.80 each[24] - The company’s debt-to-capital ratio increased to 87% in 2020 from 56% in 2019, indicating a higher reliance on debt financing[131] - The company’s long-term debt increased to CAD 1.9 million in 2020 from CAD 0.6 million in 2019[131] - The company’s operating working capital increased to CAD 29.9 million in 2020, up from CAD 26.6 million in 2019[131] Governance and Management - The board of directors consists of 5 members, including 2 executive directors and 3 independent non-executive directors[29] - The company is committed to operating with the highest standards of professionalism and efficiency to achieve its ambitious goals[24] - The management team includes experienced professionals with extensive backgrounds in engineering and finance, contributing to the company's strategic direction[46] - The company has a focus on governance and risk management, with independent directors serving on various committees[43] Market Conditions and Future Outlook - The forecast for natural gas futures prices remains strong for the remainder of 2021 and into 2022[23] - Oil prices have also reached multi-year highs, benefiting the company despite its focus on natural gas[23] - The company anticipates significant improvements in cash flow due to a substantial increase in future commodity prices and the enhancement of proven and probable reserves according to its drilling plans[192] Environmental and Regulatory Compliance - Compliance with environmental regulations may require substantial expenditures, and violations could lead to significant penalties and loss of permits [194] - Persta is committed to responsible use of hydraulic fracturing technology, which has increased stakeholder engagement regarding environmental practices [197] COVID-19 Impact - The company has faced significant uncertainty regarding the impact of COVID-19 on its operations and financial performance, particularly due to global market volatility and falling oil prices[167]

TA PERST Persta Resources Inc. (根據阿爾伯塔法律註冊成立的有限公司) 股份代號：3395 年 報 2019 關 於 Persta Resources Inc. Persta Resources Inc. 為 位 於 卡 加 利 的 油 氣 勘 探 開 發 公 司・專注 於 在 加 拿 大 西 部 三 個 核 心 運 營 區 域 勘 探 開 發 富 液 化 天 然 氣 及 輕 質 原 油·當中包括：Alberta Foothills的 富 液 化 天 然 氣礦產；Deep Basin Devonian的天然氣礦產； 及Peace River 的輕質原油礦產。 目 | --- | --- | |-------|----------------------| | | | | | 02 財務及經營摘要 | | 03 | 五年財務概要 | | 04 | 儲備概要 | | 05 | 主席報告 | | 08 | 董事及高級管理層履歷 | | | 13 管理層討論及分析 | | | 44 企業管治報告 | | | 60 董事曾報告 | | 73 | 獨立核數師報告 | | 79 | 財務狀況表 ...

Financial Performance - Production revenue for the three months ended June 30, 2019, was CAD 2,082,155, a decrease of 40% compared to CAD 3,480,033 in 2018[15]. - Trade revenue (net) for the six months ended June 30, 2019, was CAD 218,708, down 26% from CAD 295,448 in 2018[15]. - Adjusted EBITDA for the six months ended June 30, 2019, was CAD 89,874, a decrease of 97% compared to CAD 3,402,095 in 2018[15]. - The total comprehensive loss for the three months ended June 30, 2019, was CAD (10,743,765), an increase of 3,043% from CAD (341,871) in 2018[15]. - The comprehensive loss per share for the six months ended June 30, 2019, was CAD (0.04), a 100% increase from CAD (0.00) in 2018[15]. - The company reported total revenue of CAD 2,082 million for the three months ended June 30, a decrease of 47% year-over-year[38]. - The company reported a net loss of CAD 10,743,765 for the three months ended June 30, 2019, compared to a loss of CAD 341,871 in the same period of 2018[169]. - The net loss for the six months ended June 30, 2019, was CAD 12,753,683, compared to a net loss of CAD 886,706 for the same period in 2018[177]. Production and Sales - Average daily sales (barrel of oil equivalent per day) for the six months ended June 30, 2019, were 2,341, down 16% from 2,772 in 2018[15]. - Total production for the three months ended June 30 was 1,255 barrels of oil equivalent per day, a decrease of 38% compared to the same period in 2018[32]. - Total sales for the three months ended June 30 averaged 1,622 barrels of oil equivalent per day, down 30% year-over-year[35]. - Natural gas production for the three months ended June 30 was 6,717 thousand cubic feet per day, a decrease of 41% compared to the same period in 2018[35]. - Oil production remained stable with a slight increase of 5% in Q2 2019, totaling 490 thousand barrels compared to 467 thousand barrels in Q2 2018[41]. - Average daily production of total oil equivalent in Q2 2019 was 1,255 barrels per day, a decrease from 3,041 barrels per day in Q1 2019[154]. Operating Costs and Expenses - Operating costs increased by 51% and 56% for the three and six months ended June 30, 2019, compared to the same periods in 2018, primarily due to fixed FT-Volume commitments[58]. - General and administrative expenses totaled CAD 1,245,000 for the three months ended June 30, 2019, a 1% increase from CAD 1,238,000 in 2018, while a 12% decrease was observed for the six months, totaling CAD 2,266,000 compared to CAD 2,566,000 in 2018[60]. - Financing costs rose by 55% to CAD 1,107,000 for the three months ended June 30, 2019, and by 80% to CAD 2,024,000 for the six months, attributed to bank debt and subordinated debt[63]. - The average cost per barrel of oil equivalent increased by 145% to CAD 15.68 for the three months ended June 30, 2019, compared to CAD 6.40 in 2018, and by 88% to CAD 10.70 for the six months[65]. - The company reported a significant impairment loss of CAD 8,044,705 for the six months ended June 30, 2019[177]. Capital and Financing Activities - The company completed a subscription agreement on May 14, 2019, issuing 23.6 million shares at HKD 1.50 per share, raising approximately CAD 6 million[17]. - The company plans to use proceeds from a recent share issuance of CAD 6.0 million to expand existing operations and develop new business[28]. - The company issued shares for cash amounting to CAD 6,000,000 during the period[172]. - The company plans to allocate 83% of the net proceeds from the share issuance to expand existing operations, with CAD 4.5 million actually utilized for this purpose by June 30, 2019[86]. Agreements and Future Expectations - The company announced a natural gas processing agreement with Gexcon Energy (Canada) Ltd. on May 9, 2019, allowing access to the Voyager gas collection system[17]. - The company expects initial production from the Voyager gas processing agreement to commence in the first quarter of 2020[17]. - The completion of the Voyager pipeline is expected to increase production, with the first batch of natural gas anticipated in Q1 2020[40]. - The company anticipates first production from the Voyager area under the gas processing agreement to begin in Q1 2020[33]. Shareholder and Governance Information - As of June 30, 2019, the company's major shareholders, including Aspen, held a total of 186,862,832 shares, representing approximately 61.90% of the issued share capital[135]. - The company has established a written terms of reference for the audit and risk committee in accordance with corporate governance codes[134]. - The company has maintained compliance with the corporate governance code during the reporting period[128]. Risks and Compliance - The company continues to face significant risks associated with resource exploration, development, and refining, as previously disclosed[122]. - The audit and risk committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ending June 30, 2019, ensuring compliance with applicable accounting standards and regulations[134]. - There were no significant changes identified in the internal controls over financial reporting for the three and six months ended June 30, 2019[124].

Financial Performance - Oil and gas sales revenue for Q4 2018 was CAD 3,286,345, a decrease of 31.1% compared to CAD 4,771,967 in Q4 2017[8] - Total annual revenue for 2018 was CAD 16,435,000, down 28.3% from CAD 22,684,000 in 2017[11] - Adjusted EBITDA for Q4 2018 was CAD 487,667, a decrease of 67.6% from CAD 1,504,219 in Q4 2017[8] - The company reported a net loss attributable to shareholders of CAD (5,335,197) for Q4 2018, compared to CAD (2,858,561) in Q4 2017, representing an increase in loss of 86.6%[8] - Total production for 2018 was 806,081 barrels of oil equivalent, a decrease of 22.7% from 1,042,571 in 2017[11] - Total revenue for Q4 2018 was CAD 3,543,000, a decrease of 34% compared to CAD 5,333,000 in Q4 2017[100] - The company generated revenue of CAD 16,435 thousand in 2018, a decline from CAD 22,684 thousand in 2017[74] - The company reported a profit of CAD 752,000 from two fixed-price physical commodity contracts on December 20, 2018[131] - For the fiscal year ending December 31, 2018, the net loss decreased to CAD 7,279,461, down CAD 4,357,331 from CAD 11,636,792 in 2017[135] Production and Sales - Total production for the year 2018 was 806,081 barrels of oil equivalent, down 236,490 barrels (23%) from 1,042,571 barrels in 2017[81] - Average daily production reached 2,208 barrels of oil equivalent per day in 2018, a decrease from 2,856 in 2017[74] - Natural gas production averaged 12,251 thousand cubic feet per day in 2018, down from 15,879 in 2017[74] - Average daily production of crude oil decreased from 94 barrels in Q1 2018 to 64 barrels in Q4 2018, reflecting a decline of 32%[80] - Natural gas sales volume for Q4 2018 was 1,100,603 thousand cubic feet, a decrease of 17% from 1,333,501 thousand cubic feet in Q4 2017[101] - Oil sales volume for Q4 2018 was 5,879 barrels, a decrease of 13% from 6,742 barrels in Q4 2017[102] - Natural gas liquids and condensate sales volume for Q4 2018 was 2,395 barrels, a decrease of 28% from 3,342 barrels in Q4 2017[104] Assets and Liabilities - Total assets as of December 31, 2018, were CAD 103,581,000, down from CAD 111,091,000 in 2017[12] - Total liabilities decreased slightly to CAD (35,521,000) in 2018 from CAD (36,398,000) in 2017[12] - The company’s total equity as of December 31, 2018, was CAD 68,060,000, down from CAD 74,693,000 in 2017[12] - Total long-term debt as of December 31, 2018, was CAD 23,064,000, compared to CAD 22,197,000 as of December 31, 2017[139] - The company's total capital as of December 31, 2018, was CAD 96,997,000, down from CAD 100,743,000 in 2017[139] - The debt-to-capital ratio increased to 29.8% as of December 31, 2018, compared to 25.9% in the previous year[139] Costs and Expenses - Total operating costs for the three months ended December 31, 2018, increased to CAD 1,581,178, up from CAD 1,271,550 (24%) in the same period of 2017[112] - Average operating cost per barrel of oil equivalent increased to CAD 8.10 for the three months ended December 31, 2018, from CAD 5.88 in the same period of 2017[113] - General and administrative expenses for the three months ended December 31, 2018, totaled CAD 1,919,000, an increase of CAD 1,743,000 (10%) compared to the same period in 2017[115] - Employee costs increased by 40% to CAD 583,000 for the three months ended December 31, 2018[115] - Financing costs for the three months ended December 31, 2018, increased by CAD 682,541 to CAD 900,823 compared to CAD 218,282 in the same period of 2017, attributed to higher interest from subordinated debt[120] Strategic Focus and Future Plans - The company plans to complete the development of Voyager in Q1 2020, which is expected to increase revenue and cash flow for new drilling[29] - The company aims to optimize existing gas and oil assets, explore undeveloped land reserves, and seek potential acquisition opportunities to enhance value[30] - The company is focusing on internal reforms to improve efficiency and productivity while adapting to market changes in the oil and gas sector[29] - The company has strategically reduced production in response to a weak gas market, reserving resources for future recovery and long-term development[26] - The company expects to improve its industry position despite market volatility and uncertainties in the oil and gas sector[29] Governance and Management - The company has a strong leadership team with over 22 years of business experience in various sectors, including energy and mining[39] - The independent non-executive director, Richard Dale Orman, has over 42 years of experience in the oil and gas industry, including roles in the Alberta government and various energy companies[42] - The company’s exploration activities are led by senior vice president Wang Pingzai, who has been with the company since 2006 and has extensive experience in natural gas and oil exploration projects[49] - The financial audit and advisory experience of independent director Bryan Daniel Pinney spans over 32 years, enhancing the company's governance and financial oversight[45] - The company is committed to maintaining a strong governance framework through its audit and risk committees, ensuring transparency and accountability[44] Market Conditions and Risks - The company emphasizes that actual performance may differ significantly from forward-looking statements due to various risks and uncertainties[63] - The management warns investors not to overly rely on any forward-looking statements as actual results may vary[64] - The company faced challenges in financial forecasting due to volatile oil and gas prices and pipeline capacity limitations[151] Capital Expenditures and Investments - Capital expenditures for 2018 were CAD 7,962 thousand, significantly lower than CAD 18,864 thousand in 2017[74] - The company plans to utilize the proceeds from a subscription agreement to expand existing operations and develop new business[164] - For the year ended December 31, 2018, capital expenditures for property, plant, and equipment amounted to CAD 2,866,598, a decrease of CAD 15,996,802 from CAD 18,863,400 for the same period in 2017[171]