Pretty: just like Energi Mega Persada
Indonesian indie looking good
Indonesia's Energi Mega Persada booked a 163% increase in net profit to 195.1 billion rupiah ($21.4 million) for the year ended 31 December 2005.
Net sales in the same 12 months were up 73% year-on-year at 1.4 trillion rupiah on the back of a 12% rise in production to 31,200 barrels of oil equivalent per day.
Chris Newton, president director of the company, said: "Our core growth in earnings was due to a mixture of better year-on-year production performance, higher oil price realisations and deferred tax income due to unrecovered costs at the Kangean (production sharing contract) creating a significant deferred tax income balance. We achieved a top line sales growth was 73%."