Tuscany Energy Ltd. Reports Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015
For the six months, the company's oil & gas revenue was CAD 6.0 million compared with CAD 8.98 million a year ago. Cash flow from operations was CAD 1.6 million or CAD 0.03 per diluted share compared with CAD 4.3 million or CAD 0.11 per diluted share a year ago. Net loss was CAD 1.8 million or CAD 0.04 per diluted share compared with net earnings of CAD 0.22 million or CAD 0.01 per diluted share a year ago. Capital expenditures, net of dispositions was CAD 0.78 million compared with CAD 3.4 million a year ago.
Production for the quarter averaged 811 BOEd compared with 758 BOEd for the second quarter of 2014. Oil and NGLs production was 693 Bopd compared with 603 Bopd a year ago. Gas production was 706 Mcfd compared with 931 Mcfd a year ago.
Production for the six months averaged 844 BOEd compared with 717 BOEd for the same period in 2014. Oil and NGLs production was 720 Bopd compared with 578 Bopd a year ago. Gas production was 744 Mcfd compared with 831 Mcfd a year ago.