Alvopetro Inc. Reports Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2013
For the six months, the company reported natural gas sales of $409,000 compared to $470,000 a year ago. Funds used in operations were $1,054,000 or $0.02 per basic and diluted share compared to $2,033,000 or $0.04 per basic and diluted share a year ago. Net loss was $1,267,000 or $0.02 per basic and diluted share compared to $2,900,000 or $0.05 per basic and diluted share a year ago.
The company announced that for the quarter, the company reported total average production of 470 Mcfe/d compared to 668 Mcfe/d a year ago.
For the six months, the company reported total average production of 476 Mcfe/d compared to 707 Mcfe/d a year ago.