As at and for the year ended
($000s, unless otherwise indicated) |
December 31,
2013(1) |
December 31,
2012(2) |
December 31,
2011 |
|
FINANCIAL |
|
Oil and gas sales |
36,882 |
7,547 |
866 |
|
Total revenue |
34,695 |
7,061 |
830 |
|
Cash flow from operating activities |
16,062 |
1,773 |
333 |
|
Funds flow from continuing operations(3) |
14,700 |
1,702 |
353 |
|
Basic per share ($/share) |
0.09 |
0.02 |
0.01 |
|
Diluted per share ($/share) |
0.08 |
0.02 |
0.01 |
|
Earnings (loss) |
10,910 |
(1,071) |
(207) |
|
Basic per share ($/share) |
0.06 |
(0.01) |
(0.00) |
|
Diluted per share ($/share) |
0.06 |
(0.01) |
(0.00) |
|
Total assets |
180,486 |
80,689 |
2,388 |
|
Total long term liabilties |
42,685 |
2,818 |
82 |
|
Net debt(4) |
(13,621) |
(7,077) |
(432) |
|
OPERATIONS |
|
|
|
|
Production(5) |
|
|
|
|
Natural gas (mcf/d) |
27,042 |
3,638 |
597 |
|
Crude oil (bbls/d) |
64 |
27 |
- |
|
Natural gas liquids (bbls/d) |
216 |
142 |
1 |
|
Total (boe/d) |
4,787 |
775 |
101 |
|
Netback ($/boe) |
|
|
|
|
Operating netback(6) |
9.70 |
12.43 |
15.51 |
(1) The results of 2013 include the results of the Skope Acquisition for the period of February 19, 2013 to December 31, 2013, the results of the Monogram Asset Acquisition for the period of July 24, 2013 to December 31, 2013 and the results of the Additional Interests Acquisition for the period of August 30, 2013 to December 31, 2013.
(2) The results of 2012 include the results of the Carrot Creek Assets for the period of March 1 to December 31, 2012 and the results of the Geomark Oil and Gas Assets for the period of October 19, 2012 to December 31, 2012.
(3) Funds flow from operations is a non-IFRS measure that represents the total of funds provided by operating activities, before adjusting for changes in non-cash working capital and changes in interest payable.
(4) Net debt is a non-IFRS measure calculated as the sum of bank debt and trade and other payables less trade and other receivables and cash.
(5) The production for the year ended December 31, 2012 includes the results of the Carrot Creek Assets for the period of March 1 to December 31, 2012 and the results of the Geomark Oil and Gas Assets for the period of October 19, 2012 to December 31, 2012, averaged over 274 days.
(6) Operating netback is a non-IFRS measure calculated as the Company’s oil and gas sales, less royalties and operating expenses, averaged over the per boe production of the Company.
2014
|
($000s, unless otherwise indicated) |
Q1 |
|
FINANCIAL |
|
|
Average sales volumes (boe/d) |
6,276 |
|
Operating netback ($/boe)(1) |
19.82 |
|
Oil and gas sales |
18,376 |
|
Oil and gas sales, net of royalties |
16,447 |
|
Total revenue |
16,634 |
|
Cash flow from operating activities |
10,039 |
|
Funds flow from operations(2) |
10,089 |
|
Per share - basic ($/share) |
0.05 |
|
Per share - diluted ($/share) |
0.05 |
|
Earnings |
2,969 |
|
Per share - basic ($/share) |
0.01 |
|
Per share - diluted ($/share) |
0.01 |
|
OPERATIONS |
|
|
Production |
|
|
Natural gas (mcf/d) |
36,116 |
|
Crude oil (bbls/d) |
56 |
|
Natural gas liquids (bbls/d) |
201 |
|
Total (boe/d) |
6,276 |
|
Commodity sales prices |
|
|
Natural gas ($/mcf) |
5.17 |
|
Crude oil ($/bbl) |
91.01 |
|
Natural gas liquids ($/bbl) |
59.65 |
|
Combined ($/boe) |
32.53 |
(1)Operating netback is a non-IFRS measure calculated as the Company's oil and gas sales, less royalties and operating expenses, averaged over the boe production of the Company,
(2)Funds flow from operations is a non-IFRS measure that represents the total of funds provided by operating activities, before adjusting for changes in non-cash working capital and changes in interest payable.
2013
|
($000s, unless otherwise indicated) |
|
Q4 |
Q3(1) |
Q2 |
Q1(2) |
|
FINANCIAL |
|
|
|
|
|
|
Average sales volumes (boe/d) |
|
6,443 |
5,784 |
4,335 |
2,536 |
|
Operating netback ($/boe)(3) |
|
10.91 |
7.32 |
10.75 |
10.26 |
|
Oil and gas sales |
|
12,621 |
9,917 |
9,084 |
5,458 |
|
Oil and gas sales, net of royalties |
|
11,634 |
8,595 |
8,546 |
4,584 |
|
Total revenue |
|
11,839 |
8,783 |
8,727 |
5,346 |
|
Cash flow from operating activities |
|
6,631 |
2,579 |
3,751 |
3,101 |
|
Funds flow from operations (4) |
|
5,564 |
3,014 |
3,721 |
2,401 |
|
Per share - basic ($/share) |
|
0.03 |
0.02 |
0.02 |
0.02 |
|
Per share - diluted ($/share) |
|
0.02 |
0.02 |
0.02 |
0.02 |
|
Earnings (loss) |
|
3,531 |
(709) |
(183) |
8,271 |
|
Per share - basic ($/share) |
|
0.01 |
- |
0.00 |
0.05 |
|
Per share - diluted ($/share) |
|
0.01 |
- |
0.00 |
0.05 |
|
OPERATIONS |
|
|
|
|
|
|
Production |
|
|
|
|
|
|
Natural gas (mcf/d) |
|
36,613 |
33,157 |
24,352 |
13,726 |
|
Crude oil (bbls/d) |
|
52 |
67 |
93 |
46 |
|
Natural gas liquids (bbls/d) |
|
289 |
191 |
183 |
202 |
|
Total (boe/d) |
|
6,443 |
5,784 |
4,335 |
2,536 |
|
Commodity sales prices |
|
|
|
|
|
|
Natural gas ($/mcf) |
|
3.30 |
2.45 |
3.37 |
3.23 |
|
Crude oil ($/bbl) |
|
96.33 |
104.53 |
87.29 |
84.11 |
|
Natural gas liquids ($/bbl) |
|
40.71 |
86.76 |
53.37 |
62.45 |
|
Combined ($/boe) |
|
21.29 |
18.26 |
23.03 |
23.92 |
(1) The results for Q3-2013 include the results of the Monogram Asset Acquisition for the period of July 24 to September 30, 2013 and the Additional
Interests Acquisition for the 31 day period of August 30 to September 30, 2013.
(2) The results for Q1-2013 include the results of the Southern Assets Acquisition for the 40 day period of February 19 to March 31, 2013.
(3) Operating netback is a non-IFRS measure calculated as the Company's oil and gas sales, less royalties and operating expenses, averaged over the boe production of the Company,
(4) Funds flow from operations is a non-IFRS measure that represents the total of funds provided by operating activities, before adjusting for changes in non-cash working capital and changes in interest payable.
2012
|
($000s unless otherwise indicated) |
Q4 |
Q3 |
Q2 |
Q1(1) |
|
|
|
|
|
|
|
Average sales volumes (boe/d)(2) |
832 |
895 |
972 |
401 |
|
Operating netback ($/boe)(3) |
11.94 |
13.36 |
11.78 |
13.11 |
|
Oil and gas sales |
2,319 |
2,197 |
2,130 |
901 |
|
Oil and gas sales, net of royalties |
1,894 |
1,824 |
1,735 |
750 |
|
Total revenue |
2,752 |
1,824 |
1,735 |
750 |
|
Cash flow (deficiency) from operating activities |
660 |
246 |
1,198 |
(331) |
|
Funds flow (deficiency) from operations(4) |
775 |
442 |
520 |
(35) |
|
Basic per share ($/share) |
0.01 |
0.01 |
0.01 |
(0.00) |
|
Diluted per share ($/share) |
0.01 |
0.01 |
0.01 |
(0.00) |
|
Earnings (loss) |
(862) |
(472) |
(450) |
713 |
|
Basic per share ($/share) |
(0.01) |
(0.01) |
(0.01) |
0.01 |
|
Diluted per share ($/share) |
(0.01) |
(0.01) |
(0.01) |
0.01 |
|
OPERATIONS |
|
|
|
|
|
Production |
|
|
|
|
|
Natural gas (mcf/d) |
3,880 |
4,217 |
4,517 |
1,927 |
|
Crude oil (bbls/d) |
38 |
29 |
30 |
10 |
|
Natural gas liquids (bbls/d) |
147 |
163 |
189 |
70 |
|
Total (boe/d) |
832 |
895 |
972 |
401 |
|
Commodity sales prices |
|
|
|
|
|
Natural gas ($/mcf) |
3.64 |
2.76 |
2.01 |
2.05 |
|
Crude oil ($/bbl) |
77.36 |
80.57 |
79.26 |
75.08 |
|
Natural gas liquids ($/bbl) |
53.37 |
60.84 |
62.98 |
74.93 |
|
Combined ($/boe) |
30.30 |
26.69 |
24.07 |
24.71 |
(1) The results for Q1-2012 include the results of the Carrot Creek Assets for the period of March 1 to March 31, 2012. Pine Cliff’s sales for the month of March 2012 were approximately 1,015 boe/d, inclusive of 930 boe/d from the Carrot Creek Assets.
(2) The sales volumes for Q4-2012 includes the results of the Geomark Oil and Gas Assets for the period of October 19 to December 31, 2012, averaged over 92 days. Pine Cliff’s sales for the fourth quarter were approximately 853 boe/d, inclusive of 105 boe/d from the Geomark Oil and Gas Assets.
(3) Operating netback is a non-IFRS measure calculated as the Company’s oil and gas sales, less royalties and operating expenses, averaged over the boe production of the Company.
(4) Funds flow from operations is a non-IFRS measure that represents the total of funds provided by operating activities, before adjusting for changes in non-cash working capital and changes in interest payable.
2011
|
|
Q4 |
Q3 |
Q2 |
Q1 |
|
TOTAL OPERATIONS ($) |
|
Revenue oil and gas |
163,979 |
220,398 |
236,229 |
245,518 |
|
Cash flow (deficiency) from operations |
(4,070) |
120,109 |
68,707 |
148,120 |
|
Per share basic and diluted |
(0.00) |
0.00 |
0.00 |
0.00 |
|
Net loss |
(45,745) |
(74,182) |
(53,732) |
(32,444) |
|
Per share basic and diluted |
(0.00) |
(0.00) |
(0.00) |
(0.00) |
|
Capital expenditures |
1,816 |
13,223 |
2,942 |
6,155 |
|
Total assets |
2,387,839 |
2,503,803 |
2,622,350 |
2,896,325 |
|
Working capital |
482,322 |
487,693 |
510,444 |
482,299 |
|
Shareholders’ equity |
2,207,134 |
2,304,841 |
2,549,057 |
2,574,353 |
|
CONTINUING OPERATIONS ($)(1) |
|
Cash flow (deficiency) from operations |
(4,070) |
120,109 |
68,707 |
148,120 |
|
Per share basic and diluted |
(0.00) |
0.00 |
0.00 |
0.00 |
|
Net loss |
(45,745) |
(74,182) |
(53,732) |
(32,444) |
|
Per share basic and diluted |
(0.00) |
(0.00) |
(0.00) |
(0.00) |
|
Capital expenditures |
1,816 |
13,223 |
2,942 |
6,155 |
|
TOTAL OPERATIONS |
|
Crude oil and NGLs (barrels per day) |
1 |
1 |
1 |
1 |
|
Natural gas (MCF per day) |
522 |
594 |
614 |
659 |
2010 (2)
|
|
Q4 |
Q3 |
Q2 |
Q1 |
|
TOTAL OPERATIONS ($) |
|
Revenue oil and gas |
279,741 |
323,641 |
548,391 |
210,797 |
|
Cash flow (deficiency) from operations |
38,856 |
(547) |
229,181 |
(48,741) |
|
Per share basic and diluted |
0.00 |
(0.00) |
0.00 |
(0.00) |
|
Net earnings (loss) |
(917,079) |
616,139 |
(177,782) |
(188,494) |
|
Per share basic and diluted |
(0.02) |
0.01 |
(0.00) |
(0.00) |
|
Capital expenditures |
81,622 |
63,106 |
165,734 |
1,013,177 |
|
Total assets |
2,929,782 |
3,095,983 |
2,910,378 |
3,767,607 |
|
Working capital (deficiency) |
309,805 |
394,482 |
(387,016) |
(426,596) |
|
Shareholders’ equity |
2,549,850 |
3,466,507 |
2,796,462 |
2,963,254 |
|
CONTINUING OPERATIONS ($) (1) |
|
Cash flow from operations |
38,856 |
243,335 |
311,063 |
19,600 |
|
Per share basic and diluted |
0.00 |
0.01 |
0.01 |
0.00 |
|
Net loss |
(917,079) |
(121,705) |
(39,367) |
(22,029) |
|
Per share basic and diluted |
(0.02) |
(0.00) |
(0.00) |
(0.00) |
|
Capital expenditures |
81,622 |
40,549 |
108,879 |
989,250 |
|
TOTAL OPERATIONS |
|
Crude oil and NGLs (barrels per day) |
1 |
1 |
4 |
3 |
|
Natural gas (MCF per day) |
768 |
908 |
1,387 |
435 |
(1) Continuing operations excludes the results of operations from the South American assets which have been designated as discontinued operations. The South American assets were sold on September 24, 2010.
(2) The comparative highlights have been restated with the adoption of International Financial Reporting Standards (IFRS).
[pclose] => 1.86
[price_change] => -0.01
[per_change] => -0.538%
[volume] => 6,086,982
[yearlow] => 0.96
[yearhigh] => 1.92
[bidprice] => 1.82
[askprice] => 1.86
[bidsize] => 37700
[asksize] => 19000
)
