PENNANT ENERGY INC.
CONDENSED FINANCIAL STATEMENTS
(Unaudited – Prepared by Management)
(Expressed in Canadian Dollars)
FOR THE THREE MONTH PERIOD ENDED
SEPTEMBER 30, 2013
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED
INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsectio
n 4.3 (3) (a), if an auditor has not performed a re
view of the
condensed interim financial statements, they must b
e accompanied by a notice indicating that an audito
r has not
reviewed the financial statements.
The accompanying unaudited condensed interim financ
ial statements of the Company have been prepared by
and
are the responsibility of the Company’s management.
The Company’s independent auditor has not performed
a review of these condensed interim financial stat
ements
in accordance with standards established by the Can
adian Institute of Chartered Accountants for a revi
ew of
condensed interim financial statements by an entity
’s auditor.
PENNANT ENERGY INC.
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited – Prepared by Management)
(Expressed in Canadian Dollars)
AS AT
Notes
September 30,
2013
June 30,
2013
ASSETS
Current
Cash
$ 110,169 $ 431,024
Receivables
4 11,718 50,703
Prepaids
5 19,351
7,714
141,238 489,441
Deposits
6 85,673 56,196
Property and equipment
7 3,325,038 3,340,122
Exploration and evaluation assets
8 307,455
2
$ 3,859,404 $ 3,885,761
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current
Accounts payable and accrued liabilities 9 $ 73,82
6 $ 74,114
Due to related parties
13 4,000
9,762
77,826 83,876
Decommissioning provision
10 211,028
209,734
288,854
293,610
Shareholders’equity
Share capital
12 14,973,390 14,973,390
Subscription received in advance 11 and 20 5,025
-
Share-based payment reserve
1,420,439 1,420,439
Deficit
(12,828,304)
(12,801,678)
3,570,550
3,592,151
$ 3,859,404 $ 3,885,761
Nature and continuance of operations
(Note 1)
Commitments
(Note 15)
Subsequent events
(Note 20)
“Garth Braun”
Director
“Ron Schmitz”
Director
The accompanying notes are an integral part of thes
e condensed interim financial statements.
PENNANT ENERGY INC.
CONDENSED INTERIM STATEMENTS OF OPERATIONS AND COMP
REHENSIVE LOSS
(Unaudited – Prepared by Management)
(Expressed in Canadian Dollars)
Notes
Three Months
Ended
September 30,
2013
Three Months
Ended
September 30,
2012
REVENUES
Petroleum and natural gas
$ 148,818 $ 394,939
Royalties (13,331)
(22,556)
135,487
372,383
EXPENSES
General and administration 14 51,871 130,438
Depletion and depreciation 15,406 17,222
Production and transportation 93,741
160,438
(161,018)
(308,098)
OPERATING INCOME (LOSS)
(25,531)
64,285
OTHER ITEMS
Decommissioning costs 10 - 188
Net finance income (expense) 14 (1,228) 2,546
Gain on sale of
petroleum and gas property
7
-
357,231
Recovery of royalties
previously paid
133
-
(1,095)
359,965
Income (loss) and comprehensive
income (loss) for the period
$ (26,626)
$ 424,250
Basic and diluted income (loss)
per common share
$ (0.01)
$ 0.01
Weighted average number
of common shares outstanding
68,259,456
68,259,456
The accompanying notes are an integral part of thes
e condensed interim financial statements.
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