November 3, 2011 / 4:29 PM / 7 years ago

CORRECTED-UPDATE 1-Angle Energy posts Q3 profit

(Corrects throughout to clarify that the company posted a profit, not loss)

Nov 2 (Reuters) - Angle Energy , a Canadian oil and natural gas producer, posted a quarterly profit, helped by higher production at its light oil and other natural gas liquids properties in Alberta.

For the third quarter, the company recorded a profit of C$5 million, or 7 Canadian cents a share, compared with a loss of C$31 million, or 45 Canadian cents a share, in the year-ago period.

Revenue of the company more than doubled to C$47.7 million.

For the period ended Sept. 30, the company’s funds from operations rose 79 percent to 34 Canadian cents a share.

Shares of the Calgary, Alberta-based company closed at C$6.21 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Sriraj Kalluvila)

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