August 15, 2011 / 1:02 PM / 6 years ago

UPDATE 1-Second Wave Petroleum posts Q2 profit

(Follows alerts)

Aug 15 (Reuters) - Second Wave Petroleum Inc swung to a quarterly profit, helped by a 16 percent jump in production.

Second Wave reported second-quarter net income of C$1.7 million, or 3 Canadian cents a share, compared with a loss of C$398,000, or 1 Canadian cent a share, last year.

Revenue from operating activities rose 23 percent to C$9 million.

Production increased to 1,650 barrel of oil equivalent (BOE)per day, from 1,417 BOE per day last year.

Shares of the company closed at C$2.82 on Friday on Toronto Venture Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Saumyadeb Chakrabarty)

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