Tuscany Energy Ltd. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported oil & gas revenue $3,934,000 against $3,842,000 a year ago. Cash flow from operations was $1,862,000 or $0.04 per diluted share against $1,477,000 or $0.05 per diluted share a year ago. Net earnings for the period was $616,000 or $0.01 per diluted share against loss of $84,000 or $0.00 per diluted share a year ago. Capital expenditures, net of dispositions was $4,547,000 against $2,669,000 a year ago. Net debt was $6,555,000 against $8,139,000 a year ago.

For the quarter, the company reported oil & gas revenue $12,922,000 against $6,780,000 a year ago. Cash flow from operations was $6,152,000 or $0.15 per diluted share against $2,092,000 or $0.07 per diluted share a year ago. Net earnings for the period was $836,000 or $0.02 per diluted share against loss of $961,000 or $0.03 per diluted share a year ago. Capital expenditures, net of dispositions was $7,941,000 against $3,917,000 a year ago. Net debt was $6,555,000 against $8,139,000 a year ago.


The company reported operating results for the third quarter and nine months ended September 30, 2014. For the quarter, the company's production averaged 645 BOEd compared with 613 BOEd for third quarter of 2013. As a result of these activities the company increased its' production at the end of the quarter to average 748 BOEd for the month of September,and 950 BOEd for October.

For the nine months, the company reported production of 696 BOEd compared to 402 BOEd a year ago.