Ironhorse Announces Q3 2013 Financial and Operating Results

About this update from Pond Technologies Holdings Inc.

[{"type":"text","content":"\n\n\nCALGARY, Nov. 19, 2013 /CNW/ - Ironhorse Oil & Gas Inc. (\"Ironhorse\" or\n the \"Company\") (TSXV: IOG) announces its third quarter 2013 financial\n and operating results.\n\n\nHighlights: \n\n\n\nFunds from operations for Q3 2013 were $24,000 (nil per diluted share)\n compared to an outflow of $85,000 ($0.01 per diluted share) for Q3\n 2012.\n\n\nWorking capital was $3.8 million at September 30, 2013 including assets\n held for sale compared to net debt of $3.3 million at December 31,\n 2012.\n\n\nProduction averaged 120 boe/d during the nine months ended September 30,\n 2013 up 48% compared to the same period in 2012.\n\n\nSubsequent to September 30, 2013, the Company entered into a purchase\n and sale agreement to sell its working interest in the Leon Lake area\n of south west Saskatchewan for $7.2 million.  Proceeds will be used to\n repay bank indebtedness and fund the Company's working interest share\n of final capital requirements to bring the Pembina Nisku oil property\n on production. The sale is scheduled to close November 27, 2013.\n\n\nAlberta Energy Regulator (AER) rendered a decision on October 31, 2013\n approving the completion of all Pembina related pipelines, facilities\n and the drilling of the Pembina 1-8 well.  Once Pembina commences\n production, the Board of Directors will consider strategic alternatives\n to maximize shareholder value.\n\n\n\n\n\n \n\n\n \n\n\n \n\n \n\n\n\nSELECTED INFORMATION\n\n\nFor three months ended\n\n\n \n\n\nFor nine months ended\n\n\n \n\n\n\n\n \n\n\nSeptember 30,\n\n\n \n\n\nSeptember 30,\n\n\n \n\n\n\n\n($ thousands except per share & unit amounts)\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n\n\nFinancial\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nPetroleum and natural gas revenues (1)\n\n\n441\n\n\n451\n\n\n(2%)\n\n\n1,461\n\n\n1,404\n\n\n4%\n\n\n\n\nFunds from operations (2)\n\n\n24\n\n\n(85)\n\n\n128%\n\n\n69\n\n\n(494)\n\n\n114%\n\n\n\n\n  \n\n\nPer share - basic and diluted\n\n\n-\n\n\n-\n\n\n-\n\n\n-\n\n\n(0.01)\n\n\n100%\n\n\n\n\nNet (loss) income\n\n\n(1,015)\n\n\n(318)\n\n\n(220%)\n\n\n(1,436)\n\n\n(1,159)\n\n\n(24%)\n\n\n\n\n  \n\n\nPer share - basic and diluted\n\n\n(0.03)\n\n\n(0.01)\n\n\n(200%)\n\n\n(0.05)\n\...

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