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Tenth Avenue Petroleum Announces First Quarter 2025 Financial & Operating Results
(TheNewswire) NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION IN THE UNITED STAT...
About this update from Decimus Oil Corp.
[{"type":"text","content":"Tenth Avenue Petroleum Announces First Quarter 2025 Financial & Operating Results\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n NOT FOR DISTRIBUTION IN THE UNITED STATES OR\nDISSEMINATION IN THE UNITED STATES\n \n\n\n\n Calgary, Alberta -\n \n\n TheNewswire -\n \n\n (May 29, 2025) – Tenth Avenue Petroleum\nCorp. (“TPC”\n \n\n or the\n \n\n “Company”) (TSXV:TPC)\n \n\n is pleased to announce its financial and operating results\nfor the three months ended March 31, 2025. The associated\nmanagement’s\n \n\n discussion and analysis\n(“\n \n\n MD&A\n \n\n ”) and unaudited interim financial statements for the three\nmonths ended March 31, 2025,\n \n\n can be found at\n \n\n\n www.sedarplus.ca\n \n\n\n and\n \n\n\n www.tenthavenuepetroleum.com\n \n\n\n\n\n The Company’s key achievements in the first quarter\nof 2025 included the following:\n \n\n\n\n\n\n Achieved record production of 187 boe/d (\n \n\n 51\n \n\n % Oil NGLs) in Q1/25,\n \n\n 146% increase compared to Q4/24 and a 53% increase compared\nto Q1/24.\n \n\n\n\n\n\n Oil gas sales increased to $818,394 in Q1/25,\n \n\n a 63% increase from Q4/24 revenue of $501,738.\nThis is due to a 194% increase in gas production as a result of the\nPatricia acquisition, and a 30% increase in oil production due to\nMurray Lake returning to full operations in late Q4/24.\n \n\n\n\n\n\n Third party processing income increased by 24% to\n$25,955 in Q1/25 from $20,892 in Q1/24. The increase in third party\nprocessing income was a direct result of the Company upgrading its\nexisting infrastructure and injection equipment, allowing for greater\nthird-party water volumes to be processed at its Vulcan and Murray\nLake facilities.\n \n\n\n\n\n\n Net production expenses on a per boe basis decreased by\n56% to $30.61/boe in Q1/25 from $70.10/boe in Q4/24.\n \n\n\n\n\n\n Cash flow from operating activities of $77,816, in\nQ1/25, a 133% increase compared to Q4/24 and a 161% increase compared\nto Q1/24.\n \n\n\n\n\n\n Adjusted funds flow was $55,316 in Q1/25, a\n \n\n 120% increase compared to Q4/24 and a 20%\nincrease compared to Q1/24.\n \n\n\n\n\n\n\n\n Total capital\nexpenditures decreased by 91% in Q1/25 to $15,323 from $168,700 in\nQ4/24.\n \n\n\n\n\n\n The following table summarizes the Company’s\nfinan...