BRIEF-Petrus Resources Q4 loss per share $1.04

Wed Mar 23, 2016 8:06am EDT
 
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March 23 (Reuters) - Petrus Resources Ltd :

* Total proved plus probable reserves increased from 40.6 mmboe in 2014 to 49.2 mmboe in 2015

* Currently has hedges in place for approximately 65 pct of its 2016 forecast production volumes

* Production in Q4 averaged 8,172 boe per day, a decrease of 17 pct

* Says board of directors approved a base capital budget of $11.0 million for first half of 2016

* Production significantly impacted during the year as a result of third party pipeline restrictions which limited production

* Oil and natural gas revenue $20.5 million at Dec 31,2015 versus $22 million at Sept 30,2015

* Currently has hedges in place for about 65 pct of 2016 forecast production volumes, about 35 pct of its 2017 forecast production volumes

* Capital budget for first half of 2016 is expected to be funded with a portion of cash flow

* Petrus Resources Ltd qtrly loss per share $1.04 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)