BRIEF-Storm Resources reports qtrly FFO per share C$0.07

Thu May 12, 2016 5:35pm EDT
 
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May 12 (Reuters) - Storm Resources Ltd

* Storm Resources Ltd qtrly FFO per share $0.07

* Storm Resources Ltd qtrly revenue from product sales $16.1 million versus $18.5 million

* All figures in C$

* Production averaged 13,418 boe per day, a per-share increase of 25% from previous quarter

* Production in Q2 is forecast to be approximately 12,500 boe per day

* Capital investment in 2016 will be reduced to between $37.0 and $42.0 million

* Startup of third facility at umbach deferred to april 2017

* 14,000 boe/d

* Annual average production in 2016 is still forecast to increase by 30% on a year-over-year basis

* Storm resources ltd. Is pleased to announce its financial and operating results for the three months ended march 31, 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)