August 5, 2011 / 12:22 PM / 7 years ago

UPDATE 1-Angle Energy Q2 up on higher output

* Q2 rev doubles to C$48.6 mln

* Ups 2011 exit production view by 6 pct

* Ups 2011 capital budget by 7 pct (Follows alerts)

Aug 5 (Reuters) - Angle Energy , a Canadian oil and natural gas producer, posted a second-quarter profit as production nearly doubled at its light oil and other natural gas liquids properties in Alberta.

The company raised its 2011 exit production outlook by about 6 percent to 16,000-17,000 boe/d, and also increased its capital budget for the year by about 7 percent to C$160.0 million.

For April-June, the company earned C$6.2 million, or 8 Canadian cents a share, versus a loss of C$594,000, or 1 Canadian cent a share, a year ago.

Revenue more than doubled to C$48.6 million.

Analysts, on average, had forecast earnings of 8 Canadian cents on revenue of C$53 million, according to Thomson Reuters I/B/E/S.

Angle shares closed at C$8.89 on Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Joyjeet Das)

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