Lundin Petroleum to Report Q2 Foreign Exchange Loss

Lundin Petroleum AB will recognise a net foreign exchange loss of approximately MUSD 64 and expense capitalised financing fees of MUSD 22 (pre-tax) for the second quarter of 2016.
 

• The profitability for the second quarter of 2016 will be impacted by a net foreign currency exchange loss mainly related to the revaluation of loan balances and the expensed capitalised financing fees
• These items will have no impact on the reported operating cash flow or EBITDA for the period
• The financing fee charge of MUSD 22 will be partly offset by a deferred tax credit of MUSD 11 which will also be recognised in the income statement for the second quarter of 2016 (Reporting By Ole Petter Skonnord