Ghana Oil Co (XGHA:GOIL) Long-Term Capital Lease Obligation : GHS3 Mil (As of Dec. 2023)

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What is Ghana Oil Co Long-Term Capital Lease Obligation?

Ghana Oil Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was GHS3 Mil.

Ghana Oil Co's quarterly Long-Term Capital Lease Obligation increased from Dec. 2021 (GHS3 Mil) to Dec. 2022 (GHS4 Mil) but then declined from Dec. 2022 (GHS4 Mil) to Dec. 2023 (GHS3 Mil).

Ghana Oil Co's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (GHS3 Mil) to Dec. 2022 (GHS4 Mil) but then declined from Dec. 2022 (GHS4 Mil) to Dec. 2023 (GHS3 Mil).

Ghana Oil Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Ghana Oil Co's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ghana Oil Co Long-Term Capital Lease Obligation Chart

Ghana Oil Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.55

3.33

3.71

3.46

Ghana Oil Co Semi-Annual Data
	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial										-	2.55	3.33	3.71	3.46

Ghana Oil Co (XGHA:GOIL) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Ghana Oil Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Ghana Oil Co Ltd (XGHA:GOIL) » Definitions » Long-Term Capital Lease Obligation

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Address

Junction of Kojo Thompson and Adjaben Roads, Building No. D 659/4, P.O. Box GP 3183, Adabraka, Accra, GHA

Website

https://www.goil.com.gh

Ghana Oil Co Ltd (GOIL) is engaged in the marketing and distribution of petroleum products. Its objective is to market petroleum and related products particularly fuels, liquefied petroleum gas (LPG), lubricants, bitumen, and specialty products in Ghana. The company is engaged in the business of marketing quality petroleum and other energy products and services in all its branches in a healthy, safe, environmentally friendly, and socially responsible manner.

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