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ROMPETROL WELL SERVICES S.A. - PTR

2017 H1 financial results

Release Date: 8/11/2017 6:30:05 PM

IRIS Code: A80DA

ANNOUNCEMENT
regarding the availability Report for the first semester 2017

Rompetrol Well Services S.A. (PTR) is one of the major suppliers of well services in Romania. The company offers a wide range of services for oil and gas wells. These services include cementing, consolidation and sand control services, stimulation, testing, slick-line, tubular running operations, etc.

The oil industry is going through a difficult time with weak demand and low prices, with a relevant impact on the company’s activity highlighted in the trend of the financial indicators comparable to that of the industry on the market segmented on which it operates. The priorities of the period are focused on quality over quantity.

The operational activity of the company was effectively affected by the global economic climate in the oil and gas industry, the determining factor being the crude oil price. The effects of the oil price decline in recent years- the postponement of major projects for exploration and production of hydrocarbons, conventional or unconventional, reducing investment, the severely decreased demand for well services - were fully felt in the markets where the company is active. The evolution of the barrel oil price has generated domino effects, the main petroleum operators significantly reducing operational and investment budgets.

RON

H1 2017

H1 2016

Q2 2017

Q2 2016

Operating income, of which:

15,071,058

13,116,109

8,595,187

6,064,217

Services performed

14,961,240

13,084,590

8,492,122

6,051,974

Operating expenses

(13,622,077)

(13,587,355)

(7,336,934)

(6,646,105)

EBITDA

1,448,981

(471,246)

1,258,253

(581,888)

Depreciation

(3,176,553)

(3,557,167)

(1,550,900)

(1,835,845)

EBIT

(1,727,572)

(3,978,413)

(292,647)

(2,367,733)

Net financial income

1,107,851

945,649

559,428

538,971

NET RESULT

(619,721)

(3,032,764)

266,781

(1,828,762)

Available cash on demand at the end of period

40,077,703

30,675,263

40,077,703

30,.675,263

Employees at the end of period

162

222

162

222

During the first six months of the year 2017 all the company commitments were managed in financial equilibrium and ensuring the cash for full and timely payment of commercial commitments, salaries, debt budget. Current cash and cash equivalents offers the possibility by full financing from own sources the working capital. The company managed to improve operational performance, even though the economic environment in the oil and gas industry conditions were not favorable.

Performance of contracts with traditional customers and suppliers has offered the continuity of business trying as through the cost monitoring programs to decrease the impact drop of revenues from the core activity, due to low demand for well services.

Rompetrol Well Services S.A. inform the investors about the availability of the report for the first semester of 2017. The report made in accordance with applicable legislation, will be available to the public starting with August 11, 2017 18:30 o'clock in writing, upon request and in electronic form on the Company's website: www.rompetrol.com / Rompetrol Well Services / Investor Relations / Financial Results and Reporting / Interim reports and presentations.

GENERAL MANAGER,

Adrian-Ion STANESCU



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