Amendment to Parent Company Financial Results – Group Results Unchanged

Posted on 3 September 2014

New Zealand Oil & Gas Limited (NZOG) has identified a misstatement in the Parent company results released on Tuesday, 26th August 2014. There is no impact on the NZOG Group consolidated results for the year, which remain unchanged from that previously reported.

The preliminary full year results announcement contained the audited consolidated financial statements, which included the Parent company accounts. It has been subsequently identified that intercompany dividend distributions from two wholly owned subsidiaries were overstated by $11.6 million, which in turn overstated the finance income, profit after tax and advances to related parties of the Parent. As the transactions were between 100% owned subsidiaries of the Group and the Parent, the misstatement has had no impact on the Group consolidated results previously announced.

The amended audited consolidated financial statements for the year ended 30 June 2014 are available to view and download HERE.


Attachment: News Release