BRIEF-Toro Oil & Gas says qtrly production rev rose to $2.1 mln

Wed May 25, 2016 5:41am EDT
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May 25 (Reuters) - Toro Oil & Gas Ltd :

* Toro Oil & Gas Ltd announces first quarter 2016 financial and operating results

* Averaged 873 boe/d in production during Q1 2016 compared to 561 boe/d of production in Q1 2015

* Toro reduced its operating personnel subsequent to end of quarter

* As result of severely low commodity prices, co elected not to perform any drilling or significant capital operations in first half 2016

* Has been advised verbally subsequent to end of quarter that $18 million development facility will no longer be available to Toro

* Qtrly production revenue $2.1 million versus $1.7 million

* Qtrly net comprehensive loss per share of $0.03

* Issuance of about 551,000 shares to management, employees, directors in satisfaction of cash entitlements due to such individuals Source text for Eikon: Further company coverage: