November 10, 2011 / 11:40 AM / in 6 years

UPDATE 1-BNK Petroleum Q3 loss narrows on higher production

Nov 10 (Reuters) - BNK Petroleum Inc’s quarterly loss narrowed, helped by higher oil production and prices.

The Canadian oil and gas explorer reported a third-quarter net loss at C$274,000, or breakeven per share, compared with a loss of C$1.5 million, or 1 Canadian cent a share, last year.

Oil and gas revenues net of royalties more than doubled to C$6.1 million.

Average daily production increased 70 percent to 1,868 barrels of oil equivalent per day in the quarter.

Shares of the company closed at C$2.20 on Wednesday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)

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