Financial Performance - Production revenue increased by 81% to CAD 8,893 thousand for the three months ended June 30, 2022, compared to CAD 4,909 thousand in the same period of 2021[10]. - Operating netback rose by 298% to CAD 4,347 thousand for the three months ended June 30, 2022, from CAD 1,092 thousand in the same period of 2021[10]. - The company reported a basic and diluted loss per share of CAD (0.01) for the three months ended June 30, 2022, compared to a profit of CAD 0.01 in the same period of 2021, representing a change of (346%)[10]. - The company recorded a net income of CAD 5.36 million in Q2 2022, a significant improvement from a net loss of CAD 1.55 million in Q4 2021[29]. - Total revenue increased by 81% to CAD 8,908 thousand for the three months ended June 30, 2022, compared to CAD 4,916 thousand in the same period of 2021[44]. - Adjusted EBITDA for the six months ended June 30, 2022, reached CAD 5,122,000, reflecting an increase of 872% from CAD 527,000 in the same period of 2021[137]. - Net income for the six months ended June 30, 2022, was CAD 8,357,245, compared to a net loss of CAD 4,766,999 for the same period in 2021[190]. - For the three months ended June 30, 2022, the net income was CAD 5,358,045 compared to a net loss of CAD (1,925,246) for the same period in 2021, indicating a significant improvement[197]. Production and Sales - Average daily sales volume decreased by 20% to 1,863 barrels of oil equivalent per day for the three months ended June 30, 2022, from 2,317 barrels in the same period of 2021[10]. - Average daily production in Q2 2022 was 1,855 barrels of oil equivalent per day, compared to 2,054 barrels in Q1 2022, indicating a decrease of about 9.7%[28]. - The average daily natural gas production was 10,371 thousand cubic feet per day in Q2 2022, down from 11,470 thousand cubic feet per day in Q1 2022, a decline of approximately 9.6%[28]. - Natural gas production decreased by 18% to 10,371 thousand cubic feet per day for the three months ended June 30, 2022, compared to 12,607 thousand cubic feet per day in the same period of 2021[37]. - Oil production fell by 26% to 56 barrels per day for the three months ended June 30, 2022, down from 76 barrels per day in the same period of 2021[42]. - Total sales volume decreased by 20% to 1,863 barrels of oil equivalent per day for the three months ended June 30, 2022, compared to 2,317 barrels of oil equivalent per day in the same period of 2021[37]. Assets and Liabilities - Total assets as of June 30, 2022, were CAD 58,177 thousand, up from CAD 42,205 thousand in 2021[11]. - Total liabilities decreased to CAD 40,301 thousand as of June 30, 2022, compared to CAD 41,752 thousand in 2021[11]. - The company’s total equity increased to CAD 17,876 thousand as of June 30, 2022, from CAD 453 thousand in 2021[11]. - The company's long-term debt decreased significantly to CAD 2,546 thousand as of June 30, 2022, from CAD 17,355 thousand at the end of 2021[79]. - The debt-to-equity ratio improved to 66% as of June 30, 2022, compared to 90% at the end of 2021[79]. - Total liabilities decreased to CAD 40,300,736 as of June 30, 2022, from CAD 47,968,368 as of December 31, 2021, a reduction of approximately 16.0%[186]. - Shareholders' equity increased significantly to CAD 17,876,254 as of June 30, 2022, from CAD 5,013,809 as of December 31, 2021, reflecting a growth of approximately 256.5%[186]. Costs and Expenses - Operating costs decreased to CAD 3.32 million in Q2 2022 from CAD 3.28 million in Q1 2022, showing a slight reduction of about 1.5%[29]. - Operating costs for the six months ended June 30, 2022, were CAD (6,602,000), a decrease of 10% from CAD (7,367,000) in the same period of 2021[136]. - General and administrative expenses rose by 48% to CAD 703,000 for the three months ended June 30, 2022, and by 12% to CAD 1,327,000 for the six months ended June 30, 2022[58]. - Financial expenses decreased by 29% to CAD 876,000 for the three months ended June 30, 2022, and by 28% to CAD 1,775,000 for the six months ended June 30, 2022[60]. Future Plans and Strategies - The company plans to continue focusing on exploration and development in its core operating areas in Western Canada, particularly in Alberta Foothills and Peace River[3]. - The company plans to explore additional drilling targets in 2022 and 2023 to capitalize on strong pricing conditions, contingent on available capital[23]. - The company anticipates increased production from Basing and Voyager, contributing to future revenue growth[53]. - The company is actively seeking additional financing opportunities, including alternative debt arrangements and joint ventures, to manage capital expenditures and leverage[128]. Shareholder Information - As of June 30, 2022, the company had 432,886,520 ordinary shares in circulation, which increased to 449,886,520 shares by the date of the management discussion[96]. - The company has not declared any dividends for the three and six months ended June 30, 2022, and 2021[103]. - The company has a total of 432,886,520 shares issued as of June 30, 2022[152]. - Aspen Investment Holdings Limited holds 181,194,306 shares, representing approximately 41.86% of the total issued shares[157]. - The company has approved a stock option plan allowing the issuance of options not exceeding 10% of the total issued and outstanding shares as of the approval date[167]. Compliance and Governance - The company has adhered to the corporate governance code during the reporting period, ensuring proper regulation of business activities and decision-making processes[143]. - The company is committed to conducting business transparently and responsibly within the communities it operates[132]. - JX Energy's internal financial reporting controls were assessed as effective based on the 2013 Internal Control - Integrated Framework[126]. - The company has complied with all covenants related to its subordinated debt as of June 30, 2022[90].
吉星新能源(03395) - 2022 - 中期财报