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 MAUREL & PROM: First Half 2010 Revenue up 68% to EUR 131.3 Million
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MAUREL & PROM: First Half 2010 Revenue up 68% to EUR 131.3 Million
August 3, 2010 : PARIS

PARIS, August 3, 2010 /PRNewswire/ --

- Q2 2010 Entitlement of 10,969 b/d, Representing an Average of 9,814 b/d in the First Half of 2010

- The Current Gross Production in Gabon is Approximately 16,750 b/d, Representing Entitlement of Approximately 14,000 b/d

Revenue for the first half of 2010

The Group's revenue in the first half of 2010 totalled EUR131.3 million, up 68% from EUR78.3 million in the first half of 2009.

    
    In EUR millions    Q1 2010  Q2 2010*   H1 2010     H1 2009**     Change
    Exchange rate       1.3829    1.2731    1.3285      1.3332         -0.4%
 
              Congo        0.0       0.0       0.0         0.1          n/a
            Tilapia        0.0       0.0       0.0         0.1
            Gabon**       33.5      64.9      98.4        36.2          172%
              Banio        1.1       1.7       2.8         2.5           11%
               Onal       26.8      49.1      75.9        22.7          235%
               Omko        5.6       5.6      11.2        11.0            2%
               Omgw        0.0       7.2       7.2         0.0          n/a
               Ombg        0.0       1.2       1.2         0.0          n/a
           Tanzania        0.1       0.2       0.3         0.0          n/a
          Mnazi Bay        0.1       0.2       0.3         0.0
     Oil production       33.5      65.2      98.7        36.3          172%

       Oil services       23.5      27.5      51.0        42.8           19%
 
              Other       -8.1     -10.2     -18.4        -0.9          n/a
 
              TOTAL       48.9      82.4     131.3        78.3          68%
 
    * Revenue for the second quarter is calculated by subtracting 
      first-quarter revenue from six-month revenue
 
    ** From 1 January 2010, turnover includes sales of barrels used to pay 
       corporate tax. The impact of this change of method is EUR 6.9m in H1 
       2010 against EUR 2.5m in H1 2009.

// Maurel & Prom
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