GREY:DONYF - Post by User
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synectixon Nov 06, 2014 10:07pm
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Post# 23104999
Excellent news
Excellent news Donnycreek Announces Year End Results
Thursday, November 06, 2014
Donnycreek Announces Year End Results
21:45 EST Thursday, November 06, 2014
CALGARY, ALBERTA--(Marketwired - Nov. 6, 2014) - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended July 31, 2014 with 2013 comparatives. Selected financial and operational information is outlined below and should be read in conjunction with Donnycreek's audited financial statements and related MD&A which are available for review at www.sedar.com and on our website at www.donnycreekenergy.com.
FINANCIAL AND OPERATING HIGHLIGHTS
| | Three Months Ended | | Year Ended | |
| | 31-Jul-14 | | 31-Jul-13 | | 31-Jul-14 | | 31-Jul-13 | |
| Petroleum and natural gas sales | $ | 4,096,275 | | $ | 2,899,982 | | $ | 15,005,576 | | $ | 4,751,899 | |
| Funds flow from operations(1) | $ | 2,413,543 | | $ | 1,726,323 | | $ | 9,236,588 | | $ | 2,527,330 | |
| | Basic ($/share) | $ | 0.04 | | $ | 0.04 | | $ | 0.17 | | $ | 0.07 | |
| | Diluted ($/share) | $ | 0.04 | | $ | 0.04 | | $ | 0.17 | | $ | 0.07 | |
| Net income (loss) | $ | (3,216,079 | ) | $ | 551,137 | | $ | 2,022,001 | | $ | (1,308,614 | ) |
| | Basic ($/share) | $ | (0.06 | ) | $ | 0.01 | | $ | 0.04 | | $ | (0.04 | ) |
| | Diluted ($/share) | $ | (0.06 | ) | $ | 0.01 | | $ | 0.04 | | $ | (0.04 | ) |
| Capital expenditures | $ | 12,342,589 | | $ | 4,937,074 | | $ | 47,872,876 | | $ | 27,168,319 | |
| Working capital | $ | (1,008,231 | ) | $ | 27,781,356 | | $ | (1,008,231 | ) | $ | 27,781,356 | |
| Total assets | $ | 88,075,888 | | $ | 65,907,337 | | $ | 88,075,888 | | $ | 65,907,337 | |
| Operating | | | | | | | | | | | | |
| Average daily production (sales) | | | | | | | | | | | | |
| | Natural gas (mcf/d) | | 2,257 | | | 1,471 | | | 1,943 | | | 717 | |
| | Crude oil and NGLs (bbls/d)(2) | | 326 | | | 253 | | | 304 | | | 93 | |
| | Total (boe/d) | | 702 | | | 498 | | | 627 | | | 212 | |
| Average realized price | | | | | | | | | | | | |
| | Crude oil ($/bbls) | $ | 103.92 | | $ | 93.52 | | $ | 94.46 | | $ | 83.90 | |
| | Natural gas ($/mcf) | $ | 5.26 | | $ | 3.76 | | $ | 5.31 | | $ | 3.75 | |
| | NGLs ($/bbls)(2) | $ | 101.17 | | $ | 99.69 | | $ | 102.00 | | $ | 99.19 | |
| Netback ($/boe) | | | | | | | | | | | | |
| | Petroleum and natural gas sales | $ | 63.39 | | $ | 63.33 | | $ | 65.52 | | $ | 61.34 | |
| | Royalties | $ | (2.41 | ) | $ | (2.42 | ) | $ | (3.45 | ) | $ | (2.63 | ) |
| | Operating expenses (incl. transportation) | $ | (15.74 | ) | $ | (17.48 | ) | $ | (14.10 | ) | $ | (15.18 | ) |
| Operating netbacks(3) | $ | 45.24 | | $ | 43.43 | | $ | 47.97 | | $ | 43.53 | |
| Share Information | | | | | | | | | | | | |
| Weighted average common shares outstanding | | 55,007,487 | | | 42,961,889 | | | 53,488,009 | | | 37,154,660 | |
| Weighted average common shares outstanding, fully diluted | | 56,382,887 | | | 44,150,878 | | | 54,863,409 | | | 37,154,660 | |
Notes:
| (1) | Funds flow from operations are petroleum and natural gas revenue and interest income less producing and operating exploration and evaluation expenditures and general and administrative expenses. |
| (2) | References to NGLs include condensate. |
| (3) | Operating netbacks are determined by deducting royalties, production expenses and transportation and selling expenses from petroleum and natural gas revenue. |
Donnycreek is a Calgary based public oil and gas company which holds approximately 439 gross (313 net) sections of petroleum and natural gas rights, with an average working interest of approximately 70%, prospective primarily for Montney liquid rich natural gas resource development all of which are located in the Deep Basin area of west-central Alberta.
Further information relating to Donnycreek is also available on its website at www.donnycreekenergy.com.