Mountainview Energy Ltd. reported earnings and production results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported petroleum and natural gas sales of USD 5,108,000 compared to USD 7,418,000 a year ago. Funds flow from operations at negative was USD 1,922,000 or USD 0.02 per basic and diluted share compared to funds flow from operations of USD 2,085,000 or USD 0.02 per basic and diluted share a year ago. Net loss was USD 44,899,000 or USD 0.51 per basic and diluted share compared to USD 3,141,000 or USD 0.04 per basic and diluted share a year ago. Capital expenditure was USD 3,669,000 compared to USD 16,584,000 a year ago.

For the year, the company reported petroleum and natural gas sales of USD 24,108,000 compared to USD 20,527,000 a year ago. Funds flow from operations at negative was USD 1,973,000 or USD 0.02 basic and diluted per share compared to funds flow from operations of USD 3,359,000 or USD 0.06 diluted per share a year ago. Net loss was USD 54,347,000 or USD 0.62 per basic and diluted share compared to USD 5,974,000 or USD 0.07 per basic and diluted share a year ago. Capital expenditure was USD 23,553,000 compared to USD 48,707,000 a year ago. Net debt was USD 84,658,000 as on December 31, 2014 compared to USD 59,244,000 as on December 31, 2014.

For the quarter, average daily production of light crude oil was 880 bbl/d compared to 1,039 bbl/d a year ago. Natural gas production was 182 Mcf/d compared to 864 Mcf/d a year ago. Barrels of oil equivalent was 927 boe/d compared to 1,183 boe/d a year ago.

For the year, average daily production of light crude oil was 802 bbl/d compared to 644 bbl/d a year ago. Natural gas production was 219 Mcf/d compared to 632 Mcf/d a year ago. Barrels of oil equivalent was 853 boe/d compared to 749 boe/d a year ago.