INTERIM REPORT JANUARY - MARCH 2012

Petrogrand AB 

04.05.2012 08:45
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Stockholm, Sweden, 2012-05-04 08:45 CEST (GLOBE NEWSWIRE) -- 

First quarter of 2012

  -- During the 1st quarter, the Group had no operating income (-).
     The operating result for the 1st quarter amounted to TSEK -7,071 (-8,161).
  -- The change in real value of assets under discretionary management amounted
     to
     TSEK 7,298 (10,470). Net financial items in the 1st quarter amounted to
     TSEK 22,637 (12,675), also including currency effects of TSEK 14,160
     (-2,343).
  -- Net result after tax for the 1st quarter amounted to TSEK 15,566 (4,515).
  -- Earnings Per Share for the period amounted to SEK 0.39 (0.11).

  Please see attached file for the full report.



For further information, please contact:

Maks Grinfeld, CEO, phone: +46 8 5000 7810
Sven-Erik Zachrisson, Chairman, phone: +46 8 5000 7810
Certified Adviser First North: Mangold Fondkommission AB

Reasonable caution notice:

The statement and assumptions made in the company's information regarding
Petrogrand AB's ('Petrogrand') current plans, prognoses, strategies, concepts
and other statements that are not historical facts are estimations or 'forward
looking statements' concerning Petrogrand's future activities. Such future
estimations comprise but are not limited to statements that include words such
as 'may occur', 'concerning', 'plans', 'expects', 'estimates', 'believes',
'evaluates', 'prognosticates' or similar expressions. Such expressions reflect
the management of Petrogrand's expectations and assumptions made on the basis
of information available at that time. 

These statements and assumptions are subject to a large number of risks and
uncertainties. These, in their turn, comprise but are not limited to I) changes
in the financial, legal and political environment of the countries in which
Petrogrand conducts business, II) changes in the available geological
information concerning the company's projects in operation, III) Petrogrand's
capacity to continuously guarantee sufficient financing to perform their
activities as a 'going concern', IV) the success of all participants in the
group, or of the various interested companies, joint ventures or secondary
alliances, V) changes in currency exchange rates, in particular those relating
to the RUR/USD rate. Due to the background of the many risks and uncertainties
that exist for any oil-prospecting venture and oil production company in its
initial stage, Petrogrand's actual future development may significantly deviate
from that indicated in the company's informative statements.
News Source: NASDAQ OMX



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Language:     English
Company:      Petrogrand AB
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0001587593
WKN:          
 
End of Announcement                             DGAP News-Service
 
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