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Posted On: 05/18/2017 12:27:26 PM
Post# of 102755
$MOLOF +14% on news just released! Highlights for the three and six-month period ending April 30, 2017
* February to April 2017 ("Q2"
production came in at a total of 31,800 barrels of oil equivalent ("BOE"*, compared to 13,500 BOE for the period November 2016 to January 31, 2017 ("Q1".
* Production for the three months ended April 30, 2017 increased by 135% quarter over quarter.
* $2.3 million in gross sales during the first six months of the fiscal year. Gross oil & gas sales amounted to USD $1.03 million in Q2, compared to $530,000 in Q1.
* 70% reduction in Lease operating expenses ("LOE". LOE were reduced from $17.86/BOE in Q1 to $10.46/BOE in Q2.
* 25% reduction in general and administrative expenses from Q1 to Q2.
1 -All numbers are in USD, Molori interest is 25%
* February to April 2017 ("Q2"
production came in at a total of 31,800 barrels of oil equivalent ("BOE"*, compared to 13,500 BOE for the period November 2016 to January 31, 2017 ("Q1". * Production for the three months ended April 30, 2017 increased by 135% quarter over quarter.
* $2.3 million in gross sales during the first six months of the fiscal year. Gross oil & gas sales amounted to USD $1.03 million in Q2, compared to $530,000 in Q1.
* 70% reduction in Lease operating expenses ("LOE"
. LOE were reduced from $17.86/BOE in Q1 to $10.46/BOE in Q2. * 25% reduction in general and administrative expenses from Q1 to Q2.
1 -All numbers are in USD, Molori interest is 25%
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