Q3 2015 Brief Highlights
Just a real quick brief set of highlights from the Q3 Results.
Net Loss of $34,820,000
Net Loss of 16 cents per share
Impairment $42,486,000
Oil production down to 11,234 Barrels/day (from 14,865 last quarter)
Natural Gas production down to 13,731 MCF/day (from 16,724 last quarter)
Production is down due to the sale of assets on June 15, 2015 in southeast Sask and southwest Manitoba. Also a few pipeline outages downstream that hit them a bit.
Average price of $41.81 per barrel of oil.
All in all I think the impairment is something to be strongly considered, this is a straight write-down of current assets based on current evaluation, and impairment has been a significant portion of each quarter in 2015.
In total, 2015 Impairment is at $152,322,000, and 2015 Net Loss is at $149,294,000.