BRIEF-Hawk Exploration sees negative cash flow for Q1

Wed Apr 20, 2016 8:27am EDT
 
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April 20 (Reuters) - Hawk Exploration Ltd

* Hawk announces 2015 annual financial results and filing of reserves data

* Qtrly comprehensive income per share $0.05

* Qtrly petroleum and natural gas sales $ 1.901 million versus $ 4.1 million

* Current production estimated at about 575 boe/d with an additional 125 bbl/d of shut-in production from higher operating cost wells

* Expects to reactivate these wells once price of oil has improved

* No capital spending in Q1, minimal capital planned remainder of year unless commodity prices increase

* Expected to report negative cash flow for Q1 of 2016 Source text for Eikon: Further company coverage: