Petrodorado Files Financial Results and Management Discussion & Analysis for the First Quarter of 2017
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd.
("Petrodorado" or the "Company") (TSXV-PDQ) has filed its interim Financial
Results and Management Discussion & Analysis for the three months ended March 31, 2017.
Financial Statements
Highlights include:
- Working capital of $0.9 million
- Virtually no remaining contractual commitments
- Cessation of operations in Colombia
|
$ (U.S. dollars)
|
Period ended
March 31, 2017
|
Period ended
March 31, 2016
|
|
Working Capital
|
854,182
|
16,795,357
|
|
Total Assets
|
904,817
|
17,801,401
|
|
Cash flows used in Operating Activities
|
194,854
|
1,048,426
|
|
Net Loss
|
146,005
|
925,842
|
|
Net Loss per Share, basic & diluted *
|
0.01
|
0.09
|
* All per share amounts have been adjusted retroactively to reflect the impact
of the five for one share consolidation that was effective September 16, 2016, as previously announced.
During the three months ended March 31, 2017, the Company closed the transaction to sell its remaining corporate operations in
Colombia through the sale of its wholly-owned subsidiary. Upon closing of the sale, management has ceased operations in Colombia
and, as such, has reclassified its entire Colombian segment to discontinued operations.
Complete reports and statements are available on SEDAR at www.sedar.com and on the Company
website www.petrodorado.com.
About Petrodorado Energy Ltd.
Petrodorado is engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is
located in Calgary, Alberta, Canada and Petrodorado’s common shares are traded on the TSXV under the trading symbol “PDQ”.
For further information, please contact:
Chris Reid, President and CEO
Lynn Chapman, VP Finance and CFO
Phone: (403) 800-9240
Email: info@petrodorado.com
Website: www.petrodorado.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
See the Corporation’s most recent annual information form for the year ended December 31, 2015 for a list of risk
factors associated with the business of the Corporation and an investment in its securities.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Petrodorado05292017.pdf
Source: Petrodorado Energy Ltd. (TSX Venture:PDQ)
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