Financial Performance - Production revenue for the year ended December 31 reached CAD 21,480 thousand, a 62% increase from CAD 13,269 thousand in the previous year[10]. - The company reported a net loss of CAD 4,809 thousand for the year, a significant improvement from a net loss of CAD 21,851 thousand in the previous year[14]. - The company reported a significant increase in revenue, with a total of CAD 1,200 million for the fiscal year ending December 31, 2021, representing a 15% increase compared to the previous year[52]. - The company reported a net income of CAD 200 million, a 12% increase year-over-year, reflecting improved operational efficiency[52]. - Total revenue for the year increased by 59% to CAD 21,518 thousand, driven by stronger commodity prices despite a decrease in production[86]. - The company’s total assets increased to CAD 2,500 million, up from CAD 2,200 million in the previous year, indicating strong financial health[52]. - The company’s equity decreased slightly to CAD 5.014 million as of December 31, 2021, from CAD 5.161 million in the previous year[123]. Production and Sales - Average daily sales volume decreased by 18% to 2,159 barrels of oil equivalent per day compared to 2,631 barrels in the same period last year[10]. - The average daily production of natural gas was 12,416 thousand cubic feet per day, a decrease from 13,341 thousand cubic feet per day in the previous year[14]. - The total production was 2,243 barrels of oil equivalent per day in 2021, compared to 2,363 in 2020, reflecting a decline due to natural depletion[63]. - The average daily production of natural gas was 12,416 thousand cubic feet per day in 2021, a decrease from 13,341 in 2020[63]. - The total sales volume was 2,268 barrels of oil equivalent per day in 2021, down from 2,406 in 2020[63]. Capital Expenditures and Investments - Capital expenditures for the year were CAD 8,623 thousand, significantly higher than CAD 1,932 thousand in the previous year, indicating increased investment in exploration and development[14]. - Capital expenditures amounted to CAD 8,623 thousand in 2021, a substantial increase from CAD 1,932 thousand in 2020, primarily related to drilling new wells[63]. - The company plans to start drilling new targets in 2022 and 2023, contingent on securing funding[21]. - The company is evaluating additional drilling targets for 2022 and 2023, contingent on securing funding[62]. Market Conditions and Outlook - The company anticipates strong demand for natural gas in 2022 and 2023, driven by rising commodity prices, particularly in Western Canada[20]. - Natural gas prices in Western Canada reached a seven-year high in 2021, with expectations of continued strong demand into 2022 and 2023[57]. - The ongoing conflict in Ukraine has led to a significant rise in global oil and gas prices, potentially benefiting Persta's operations and financing capabilities in the short term[22]. Operational Efficiency - The operating netback for the year was CAD 4,423 thousand, a substantial increase from CAD 1,652 thousand in the previous year, reflecting improved operational efficiency[14]. - The management emphasizes that operating netback is a key performance indicator for assessing operational performance related to oilfield profitability[176]. - The company’s operating costs decreased by 9% to CAD 14,383 thousand in 2021 from CAD 10,874 thousand in 2020[176]. Financial Obligations and Liabilities - The company’s total liabilities increased to CAD 47,968 thousand from CAD 39,506 thousand, indicating a rise in financial obligations[10]. - The company reported a loss of CAD 4.8 million for the year ended December 31, 2021, with current liabilities exceeding current assets by CAD 22.7 million[181]. - The company’s working capital deficiency included CAD 3 million of shareholder debt due on December 31, 2021[125]. - The company has a total of CAD 14.75 million in loans due at maturity, assuming principal payments are made as scheduled[134]. Corporate Governance and Compliance - The company aims to maintain high standards of corporate governance to protect shareholder interests and enhance corporate value[188]. - The independent auditor's report confirmed that the financial statements reflect the company's financial position as of December 31, 2021, in accordance with applicable international financial reporting standards[180]. - The board consists of five directors, including two executive directors and three independent non-executive directors[192]. - The company complies with listing rules requiring at least three independent non-executive directors, with one possessing appropriate professional qualifications in accounting or related financial management[192]. Environmental and Regulatory Considerations - New environmental regulations may require substantial expenditures for compliance, and violations could lead to significant penalties and loss of permits[171]. - The oil and gas industry is under scrutiny regarding the responsible use of hydraulic fracturing technology, with stakeholders increasingly concerned about its implications[173]. Employee and Compensation - Total employee compensation for the year ended December 31, 2021, was CAD 1.7 million, unchanged from 2020[159].
吉星新能源(03395) - 2021 - 年度财报