May 16, 2017 / 10:52 AM / 4 months ago

BRIEF-Strategic Oil & Gas reports Q1 net loss per share of $0.10

May 16 (Reuters) - Strategic Oil And Gas Ltd

* Strategic Oil & Gas Ltd. tests five New Muskeg wells and announces first quarter 2017 financial and operating results

* Qtrly net loss per share $0.10

* Strategic Oil and Gas Ltd qtrly average daily production increased 15% from Q1 of 2016

* Qtrly funds from operations per share basic $0.05

* Strategic Oil and Gas Ltd - company intends to commence a $24 million Q3 capital program which includes drilling up to five additional horizontal wells

* Strategic Oil and Gas Ltd- qtrly funds from operations increased significantly to $2.4 million, from funds used in operations of $2.2 million for Q1 of 2016

* Strategic Oil and Gas-expects costs operating and G&A expenses to continue to drop on per boe basis as production levels rise,increasing co’s netbacks

* Strategic Oil and Gas- has cash resources to continue drilling along Muskeg development corridor at West Marlowe as part of execution of growth strategy in H2 2017 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below