$MOLOF News! Molori Energy Issues Preliminary Q2
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Posted On: 05/18/2017 9:53:15 AM
$MOLOF News! Molori Energy Issues Preliminary Q2 Production Results
VANCOUVER, BC / ACCESSWIRE / May 18, 2017 / Molori Energy Inc. (MOL.V) (MOLOF) ("Molori" or the "Company"
, is pleased to provide some preliminary operating results for the three and six-month period ending April 30, 2017. The Company plans to report complete Q2 financial results before June 29, 2017.
Highlights for the three and six-month period ending April 30, 20171
•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%
https://finance.yahoo.com/news/molori-energy-...00803.html
VANCOUVER, BC / ACCESSWIRE / May 18, 2017 / Molori Energy Inc. (MOL.V) (MOLOF) ("Molori" or the "Company"
, is pleased to provide some preliminary operating results for the three and six-month period ending April 30, 2017. The Company plans to report complete Q2 financial results before June 29, 2017. Highlights for the three and six-month period ending April 30, 20171
•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%
https://finance.yahoo.com/news/molori-energy-...00803.html
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