SET Announcements

THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED BALANCE SHEETS AS OF SEPTEMBER 30 ,2000 AND DECEMBER 31 ,1999 SEPTEMBER 30,2000 DECEMBER 31,1999 (UNREVIEWED) (AUDITED) Baht Baht ASSETS Current Assets Cash on hand and at banks 201,260,701 690,095,663 Short -term investments 182,771,089 180,599,916 Trade accounts and notes receivable - Net 2,211,608,632 2,728,398,985 Inventories 8,523,483,100 4,985,356,039 Other current assets Materials and supplies 446,287,547 437,048,830 Others 509,488,968 647,515,749 Total Current Assets 12,074,900,037 9,669,015,182 Long Term Investments 36,017,018 31,000,000 Investments in Associated Companies 41,522,119 42,090,551 Tariff Prepayment 190,793,027 197,047,846 Property,Plant and Equipment-Net 15,994,764,138 16,759,019,547 Intangible Assets 1,212,990,637 1,271,290,328 Other Assets Long term investment - service station 734,793,830 669,209,444 Others 289,548,602 321,391,981 TOTAL ASSETS 30,575,329,408 28,960,064,879 (Signed) Sommai Phasee (Signed) Sirichai Sakornratanakul (Sommai Phasee) (Sirichai Sakornratanakul) Director President LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Bank overdrafts and loans from financial institutions 2,296,350,364 7,839,118,511 Short term loan 1,000,000,000 - Trade accounts payable 3,991,984,309 4,589,294,615 Current portion of long term loan 2,856,621,241 2,467,348,427 Other current liabilities Accrued excise tax and oil stabilization fund 165,492,370 358,484,053 Accrued expenses 464,275,445 439,120,860 Others 270,132,392 616,697,248 Total Current Liabilities 11,044,856,121 16,310,063,714 Long Term Loans 11,992,773,767 4,551,631,722 Other Liabilities Long term liabiltiies for service station lease rights 227,103,844 216,433,358 Others 104,802,899 98,925,128 Total Liabilities 23,369,536,631 21,177,053,922 Shareholders' Equity Share capital Authorized share capital Common stock 722,040,940 shares par value at Baht 10 per share 7,220,409,400 5,220,409,400 Issued and paid-up share capital Common stock 522,040,940 shares par value at Baht 10 per share 5,220,409,400 5,220,409,400 Paid - in capital Premium on share capital 2,007,950,671 2,007,950,671 Surplus on fixed assets revaluation 3,999,739,817 4,261,568,827 Retained earnings (Accumulated Deficit) Appropriated Legal reserve 547,594,555 547,594,555 Unappropriated (4,569,901,666) (4,254,512,496) Total Shareholders' Equity 7,205,792,777 7,783,010,957 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 30,575,329,408 28,960,064,879 UNREVIEWED THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF INCOME FOR THE THREE MONTHS AND THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 FOR THE THREE MONTHS FOR THE NINE MONTHS ENDED 30 SEP 2000 1999 2000 1999 Baht Baht Baht Baht Revenues Sales 11,797,011,485 10,589,103,769 37,522,035,179 26,636,996,176 Other income Interest income 2,818,943 11,990,336 15,034,790 70,811,420 Earnings from associated companies 142,244 -141,202 -568,432 1,556,079 Gain from crude oil and product oil price hedging contract 1,492,155 - 9,884,477 63,347,505 Others 15,007,205 14,541,041 174,006,926 73,966,097 Total Revenues 11,816,472,032 10,615,493,944 37,720,392,940 26,846,677,277 Expenses Cost of sales 11,161,295,322 9,402,795,110 35,775,595,034 24,375,486,369 Administrative and selling expenses 264,133,998 306,022,813 745,785,295 781,949,248 Interest Expenses 312,251,602 274,941,438 939,847,443 840,469,381 Directors' remuneration 114,000 142,800 356,400 350,400 Other Expense Depreciation 76,281,530 838,14,619 215,160,865 251,595,593 Loss (gain) from foreign exchange fluctuations 249,108,234 1,103,171,118 364,959,291 1,029,509,298 Total Expenses 12,063,184,686 11,170,887,898 38,041,704,328 27,279,060,289 Profit (Loss) before Income Tax -246,712,654 -555,393,954 -321,311,388 -432,383,012 Income Tax 1,248,093 -925,923,499 5,922,218 -925,923,499 Net Profit (Loss) -245,464,561 -1,481,317,453 -315,389,170 -1,358,306,511 Earnings Per Share (0.47) -2.84 (0.60) (2.60) UNREVIEWED THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF CHANGES IN SHAREHOLDER'S EQUITY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 2000 1999 Share capital Common stock Beginning Balance 5,220,409,400 5,220,409,400 Increase (decrease) - - Ending Balance 5,220,409,400 5,220,409,400 Paid - in capital Premium on share capital Beginning Balance 2,007,950,671 2,007,950,671 Increase (decrease) - - Ending Balance 2,007,950,671 2,007,950,671 Surplus on fixed assets revaluation Beginning Balance 4,261,568,827 4,682,210,416 Increase (decrease) -261,829,010 -326,543,802 Ending Balance 3,999,739,817 4,355,666,614 Deferred losses from foreign exchange fluctuations prior to year 1996 Beginning Balance - 30,806,453 Decrease - -16,309,299 Ending Balance - 14,497,154 Retained earnings (Accumulated Deficit) Appropriated Legal reserve Beginning Balance 547,594,555 547,594,555 Increase (decrease) - - Ending Balance 547,594,555 547,594,555 Unappropriated Beginning Balance -4,198,934,602 -2,375,848,318 Accumulated adjustment -55,577,894 - Balance after adjustment-4,254,512,496 -2,375,848,318 Increase (decrease) -315,389,170 -1,358,306,511 Ending Balance -4,569,901,666 -3,734,154,829 Total Shareholders' Equity 7,205,792,777 8,382,969,257 UNREVIEWED THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 2000 1999 Baht Baht Cash Flows from Operating Activities Net Profit (Loss) (315,389,170) (1,358,306,511) Adjustment to reconcile net profit(loss) to net cash provided by operating activities : Depreciation 683,539,673 657,675,272 Bad debts and doubtful debts (487,496) 23,153,668 Amortization 130,885,669 237,807,020 Unrealized loss from foreign exchange fluctuations 178,651,897 817,856,295 Income tax (5,922,218) 925,923,499 Loss from fixed assets disposal 2,371,333 1,369,929 Pension fund 1,865,374 (9,322,520) Deferred revenue (12,544,506) (9,729,536) Income from related company - (28,802,082) Earnings from associated companies 568,432 (1,556,079) Trade accounts and notes receivable,( increase ) decrease 517,277,849 (1,013,501,293) Inventories ,increase (3,538,127,062) (2,615,941,953) Other current assets,(increase) decrease 73,334,343 (234,286,415) Trade accounts payable, increase ( decrease ) (600,729,967) 1,101,152,284 Other current liabilities, decrease -499,085,155 -363,161,786 Net Cash Used in Operating Activities (3,383,791,004) (1,869,670,208) Cash Flows from Investing Activities Long term investments,decrease 1,237,802 8,397,060 Purchase of property, plant and equipment (184,610,281) (333,031,655) Intangible Assets (8,564,723) (54,687,552) Other assets,increase (25,381,410) (97,264,471) Net Cash Used in Investing Activities (217,318,612) (476,586,618) Cash Flows from Financing Activities : Bank overdrafts and loans from financial institutions (5,552,358,547) 1,037,093,659 Short term loans 1,000,000,000 - Long term loans 7,666,804,374 908,133,083 Net Cash Provided by Financing Activities 3,114,445,827 1,945,226,742 Increase ( Decrease ) in Cash and Cash Equivalents (486,663,789) (401,030,084) Cash and Cash Equivalents as of 1 January 870,695,579 945,477,542 Cash and Cash Equivalents as of 30 September 384,031,790 544,447,458 Supplemental Cash Flow Information : Cash paid during the quarter for : Interest expenses 938,010,345 839,486,941 Income tax (27,345,965) 71,306,154