Investor Relations

Highlights from the first quarter include:

• generated $32.3 million of adjusted funds flow ($0.09 per basic and fully diluted share) for the three months ended March 31, 2022, 223% higher than the $10.0 million generated for the three months ended March 31, 2021;
• net debt decreased by 50% or $24.9 million from $49.7 million on December 31, 2021, to $24.8 million at March 31, 2022;
• generated net earnings of $15.4 million ($0.05 per basic and $0.04 per fully diluted share) for the three months ended March 31, 2022, compared to a net loss of $0.1 million ($0.00 per basic share) for the comparable period in 2021;
• production averaged 20,397 Boe/d for the three months ended March 31, 2022, 2,090 Boe/d or 11% higher than the 18,307 Boe/d for the comparable period in 2021;
• repaid $10.0 million of term debt due December 31, 2024 during the first quarter of 2022; and
• completed and tied-in two (1.4 net) Pekisko oil wells drilled in the fourth quarter of 2021 and drilled, completed and tied in one (0.3 net) Notikewin natural gas well.