Exall Energy Corporation reported – earnings results for the third quarter and year ended December 31, 2013. For the quarter, the company reported gross revenue of CAD 7,307,000 compared with CAD 8,027,000 for the same period last year. Funds from operations were CAD 1,521,000 or CAD 0.01 diluted per share compared with CAD 3,918,000 or CAD 0.04 diluted per share for the same period last year. Net loss was CAD 17,301,000 or CAD 0.26 diluted per share compared with net profit of CAD 751,000 or CAD 0.01 diluted per share for the same period last year. Capital expenditures, net were CAD 4,055,000 compared with CAD 8,180,000 for the same period last year.

For the full year, the company reported gross revenue of CAD 36,262,000 compared with CAD 30,699,000 for the same period last year. Funds from operations were CAD 12,896,000 or CAD 0.12 diluted per share compared with CAD 15,625,000 or CAD 0.15 diluted per share for the same period last year. Net loss was CAD 16,428,000 or CAD 0.25 diluted per share compared with net profit of CAD 3,633,000 or CAD 0.05 diluted per share for the same period last year. Capital expenditures, net were CAD 12,154,000 compared with CAD 44,697,000 for the same period last year. Funds from operations for the year were primarily the result of the relatively flat production, increased commodity prices received during the year.

For the quarter, the company reported oil and gas exploration and development expenditures were CAD 4,055. The company fourth quarter 2013 well optimization operations resulted in downtime which contributed to the 12 percent decrease in the fourth quarter 2013 production average to 978 boe per day from the third quarter 2013 production average of 1,116 boe per day.

For the full year, the company reported oil and gas exploration and development expenditures were CAD 12,154. The company reported 5% increase in the fiscal 2013 production average to 1,138 boe per day from the fiscal 2012 production average of 1,082 boe per day.