|
Years Ended December 31 |
 |
|
2010 |
2009 |
2008 |
 |
| |
|
|
|
PETROLEUM REVENUE (Notes 6 and 10) |
984,107,436 |
328,779,723 |
133,367,423 |
|
| |
|
|
|
COSTS AND EXPENSES |
|
|
|
Share in costs and operating expenses
(Notes 6, 10 and 16) |
338,889,505 |
163,008,806 |
85,056,688 |
General and administrative expenses (Note 17) |
99,922,417 |
48,618,053 |
31,205,142 |
Depletion expense (Notes 6 and 7) |
24,914,270 |
12,847,502 |
3,073,145 |
|
|
463,726,192 |
224,474,361 |
119,334,975 |
|
| |
|
|
|
| OTHER INCOME (CHARGES) |
|
|
|
Equity in net earnings of associates (Note 8) |
26,173,698 |
9,341,596 |
10,236,862 |
Interest income (Notes 4 and 15) |
12,706,684 |
2,628,261 |
3,168,115 |
Gain on sale of AFS financial assets |
1,625,423 |
2,410 |
– |
Foreign exchange gains (losses) - net |
(7,879,932) |
(906,932) |
1,600,498 |
Interest and financing charges (Notes 11 and 15) |
– |
(6,696,908) |
(17,599,698) |
Others |
1,613,784 |
279,337 |
5,452,637 |
|
|
34,239,657 |
4,647,764 |
2,858,414 |
|
| |
|
|
|
| INCOME BEFORE INCOME TAX |
554,620,901 |
108,953,126 |
16,890,862 |
|
| |
|
|
|
PROVISION FOR (BENEFIT FROM) INCOME TAX (Note 19) |
|
|
|
Current |
13,065,368 |
1,486,983 |
651,681 |
Deferred |
(15,545,165) |
(1,139,116) |
1,139,116 |
|
|
(2,479,797) |
347,867 |
1,790,797 |
|
| |
|
|
|
NET INCOME |
557,100,698 |
108,605,259 |
15,100,065 |
| |
|
|
|
OTHER COMPREHENSIVE INCOME (LOSS) |
|
|
|
Changes in fair value of AFS financial assets
(Note 9) |
83,184,519 |
51,654,653 |
(75,156,968) |
|
| |
|
|
|
TOTAL COMPREHENSIVE INCOME (LOSS) |
640,285,217 |
160,259,912 |
(60,056,903) |
 |
| |
|
|
|
EARNINGS PER SHARE (Note 14) |
|
|
|
Basic |
0.0029 |
0.0006 |
0.0001 |
Diluted |
0.0029 |
0.0006 |
0.0001 |
|
| |
|
|
|
|
|
|
|
|
| see accompanying Notes to Consolidated Statements in the Annual Report 2010 |
|
