Suroco Energy Inc. Announces Filing of First Quarter Financial Statements and MD&A
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 05/27/13 -- (NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Suroco Energy Inc. (TSX VENTURE: SRN) (the "Corporation") is pleased to announce that it has filed its First Quarter Financial Statements and the related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2013 on the System for Electronic Document Analysis and Retrieval ("SEDAR").
Copies of these documents can be found on the SEDAR website at .
Alastair Hill, the Corporation's President and CEO commented, "Suroco has started the year in excellent fashion by reporting record results for the first quarter, with increased oil production, record funds flow and high quality netback metrics above $60 per barrel. This is also the first quarter in which we are reporting our results based upon net working interest ownership. During the quarter we drilled two successful Cohembi wells, one of which encountered the thickest oil pay interval found to date in the entire field, with both these wells being placed on production in late April. Aside from these high quality operating results, we also closed a $21 million credit facility, which will allow us to pursue targeted new business opportunities in our focus area in the Putumayo Basin.
Since the end of the quarter, production has continued to grow progressively, to an average of 1,637 barrels of oil per day net to the Corporation after royalty for the month of April and the first 22 days of May, supporting our expectations for continuing high quality results in the second quarter."
Forward-Looking Statements
This press release contains forward-looking statements relating to the operational and exploration activities for the Corporation, evaluation of certain prospects in which the Corporation holds an interest and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular; fluctuations in oil prices; the results of exploration and development drilling, recompletions and related activities; changes in environmental and other regulations; risks associated with oil and gas operations and future exploration activities; the need to obtain required approvals from regulatory authorities; product supply and demand; market competition; political and economic conditions in the country in which the Corporation operates; and other factors, many of which are beyond the control of the Corporation. You can find an additional discussion of those assumptions, risks and uncertainties in the Corporation's Canadian securities filings.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Corporation is a Calgary-based junior oil and gas company, which explores for, develops, produces and sells crude oil, natural gas liquids and natural gas in Colombia. The Corporation's common shares trade on the TSX Venture Exchange under the symbol SRN.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Suroco Energy Inc.
Alastair Hill
President and Chief Executive Officer
(403) 232-6784
(403) 232-6747 (FAX)
Suroco Energy Inc.
Travis Doupe
VP Finance and Chief Financial Officer
(403) 232-6784
(403) 232-6747 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.05.2013 - 10:00 Uhr
Sprache: Deutsch
News-ID 263527
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 170 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Suroco Energy Inc. Announces Filing of First Quarter Financial Statements and MD&A"
steht unter der journalistisch-redaktionellen Verantwortung von
Suroco Energy Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
