LGX Oil + Gas Inc. Reports Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015
For six months, the company reported petroleum and natural gas sales, net of royalties of CAD 5,662,869 compared to CAD 11,910,174 a year ago. Funds generated by operations were of CAD 767,725 or CAD 0.01 per diluted share compared to CAD 4,942,420 or CAD 0.06 per diluted share a year ago. Net loss was CAD 6,262,368 or CAD 0.07 per diluted share compared to CAD 547,372 or CAD 0.01 per diluted share a year ago. Capital expenditures on exploration and development were of CAD 1,141,392 compared to CAD 2,425,807 a year ago.
The company reported production results for the second quarter and six months of 2015. For the quarter, the company reported production of Crude oil and natural gas liquids of 465 Bbls per day compared to 646 Bbls per day a year ago. Production of natural gas was of 1,270 Mcf per day was 1,307 Mcf per day a year ago. Production of barrels of oil equivalent was of 677 Boe per day compared to 864 Boe per day.
For six months, the company reported production of Crude oil and natural gas liquids of 537 Bbls per day compared to 690 Bbls per day a year ago. Production of natural gas was of 1,274 Mcf per day was 1,296 Mcf per day a year ago. Production of barrels of oil equivalent was of 749 Boe per day compared to 906 Boe per day.