• CLEAN AND ENVIRONMENTALLY FRIENDLY Natural gas is the cleanest and most environmentally friendly of all fossil fuels...Read more

  • WELL DRILLING PADThe size of a typical drilling pad is about 1 hectare. To compare, the floorage of an average shopping centre is 4.5 hectares... Read more

  • SECURING OF WELL DRILLING PADA drilling pad as well as the adjacent pool are reinforced and tightened with concrete slabs. Protective foil is additionally laid where necessary.

  • WORK NOISEWell drilling does not produce onerous noise. The intensity of sounds generated in connection with drilling work is lower than that generated by street traffic.Read more

  • SAFETY OF FRACTURING PROCESSIn Poland, exploration wells in shale rock are drilled to depths of over 2.5 km.Read more

  • COMPOSITION OF FRACTURING FLUIDFracturing fluid is 95% water. Read more

  • NO MAJOR LANDSCAPE INTERFERENCEIf gas production is launched, the land surrounding the isolated, secured zone, is subject to a reclamation treatment. Read more

Financial Highlights

for the year ended December 31st 2012

PLN EUR
Jan 1 – Dec 31 2012 Jan 1 – Dec 31 2011 Jan 1 – Dec 31 2012 Jan 1 – Dec 31 2011
I. Revenue 28,730 23,004 6,884 5,556
II. Operating profit/(loss) 2,533 1,872 607 452
III. (Profit)/loss before tax 2,542 1,898 609 458
IV. Net profit/(loss) attributable to owners of the Parent 2,236 1,756 536 424
V. Net profit/(loss) 2,234 1,755 535 424
VI. Comprehensive income attributable to owners of the Parent 2,032 1,821 487 440
VII. Total comprehensive income 2,030 1,820 486 440
VIII. Net cash flows from operating activities 2,552 2,676 611 646
IX. Net cash flows from investing activities  (6,149)  (4,227)  (1,473)  (1,021)
X. Net cash flows from financing activities 4,040 1,682 968 406
XI. Change in cash  443 131 106 32
XII. Earnings/(loss) and diluted earnings/(loss) per share attributable to owners of the Parent (PLN/EUR) 0.38 0.3 0.09 0.07
Dec 31 2012 Dec 31 2011 Dec 31 2012 Dec 31 2011
XIII. Total assets 47,917 38,824 11,721 8,790
XIV. Liabilities and provisions 20,670 13,606 5,056 3,080
XV. Non-current liabilities 11,057 5,760 2,705 1,304
XVI. Current liabilities  9,613 7,846 2,351 1,776
XVII. Equity  27,247 25,218 6,665 5,710
XVIII. Share capital 5,900 5,900 1,443 1,336
XIX. Weighted average number of shares (thousand) 5,900 5,900 5,900 5,900
XX. Carrying amount per share and diluted carrying amount per share (PLN/EUR) 4.62 4.27 1.13 0.97
XXI. Dividend per share declared or paid (PLN/EUR)  -  0.12  -  0.03

Items of the income statement, statement of comprehensive income and statement of cash flows were translated using the EUR exchange rate computed as the arithmetic mean of mid-rates quoted by the National Bank of Poland (NBP) for the last day of each calendar month in the given reporting period.
Items of the statement of financial position were translated using the EUR mid-rate quoted by the NBP as at the end of the given financial period.

Average EUR/PLN exchange rates quoted by the NBP

Average EUR/PLN exchange rates quoted by the NBP Dec 31 2012 Dec 31 2011
Average exchange rate for the period 4.1736 4.1401
Exchange rate at end of the period 4.0882 4.4168
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