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Petrodorado Files Financial Results and Management Discussion & Analysis for the First Quarter of 2013 and Announces California Farm-In
Petrodorado Files Financial Results and Management Discussion & Analysis for the First Qua...
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[{"type":"text","content":"Petrodorado Files Financial Results and Management Discussion & Analysis for the First Quarter of 2013 and Announces California Farm-InPetrodorado Files Financial Results and Management Discussion & Analysis for the First Quarter of 2013 and Announces California Farm-In\nNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES\nCalgary, Alberta CANADA, May 27, 2013 /FSC/ - Petrodorado Energy Ltd. (PDQ - TSX Venture), (\"Petrodorado\" or the \"Company\") has filed its Interim Financial Results and Management Discussion & Analysis for the three months ended March 31, 2013 and announces farm-in agreement in California.\nFinancial Statements\nHighlights include:\n- Working capital of $32.9 million, plus $5.6 million in non-current restricted cash for a total of $38.5 million to fund exploration activities and general operations. \n- On March 20, 2013, Petrodorado executed a sale agreement of the Company's working interest in the Moriche Block for total cash considerations of $3.5 million.  The Company has received $1.9 million subsequent to quarter end.\n-***-\n-------------------------------------------------------------------------\n$ (U.S. dollars)                            Period ended   Period ended\n                                           March 31, 2013 March 31, 2012\n-------------------------------------------------------------------------\nWorking Capital                                32,886,376     34,364,599\n-------------------------------------------------------------------------\nExploration and Evaluation Assets              53,275,946     61,082,515\n-------------------------------------------------------------------------\nTotal Assets  &...