* Q1 EPS C$0.02 vs yr-ago loss/shr C$0.09
* Sees 2010 exit production between 17,000-19,000 boe/d
* Petroleum and nat gas rev up 7 pct
May 11 (Reuters) - Canadian oil and gas exploration company Birchcliff Energy Ltd (BIR.TO) posted a first-quarter profit partly driven by lower operating costs, and said it expects to exit 2010 with 17,000 to 19,000 barrels of oil equivalent per day (boe/d).
Birchcliff said it sees a fall in production through the rest of the spring, hurt by plant turnarounds and natural declines from the new Montney/Doig natural gas wells.
For the first quarter, net income was C$2.7 million, or 2 Canadian cents a share, compared with a loss of C$9.7 million, or 9 Canadian cents a share a year ago.
Petroleum and natural gas revenue rose 7 percent to C$44.2 million, while production fell 17 percent to 10,407 boe/d.
Analysts on average were expecting a loss of 1 Canadian cent, on revenue of C$45.3 million, according to Thomson Reuters I/B/E/S.
Cash flow more than doubled at C$22.9 million, or 18 Canadian cents a share.
Shares of the company closed at C$8.97 Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Don Sebastian)