Petrodorado Files 2012 Financial Results, Annual Information Form, and Management Discussion & Analysis
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta CANADA, April 25, 2013 /FSC/ - Petrodorado Energy Ltd. (PDQ - TSX Venture), ("Petrodorado" or the "Company") has filed its 2012 Year Financial Results, Annual Information Form and Management Discussion & Analysis.
Financial Statements
Highlights include:
- As at December 31, 2012, the Company has $58.3 million funds available to be used in exploration activities and general operations by way of cash and cash equivalents, short-term investments, and restricted cash.
- On July 12, 2012, Petrodorado executed an agreement with the operator of Peru Blocks 135 and 138 to divest its 45% beneficial interest for total cash considerations of $15.3 million.
- On May 20, 2013, Petrodorado executed a sale agreement of the Company's working interest in the Moriche Block for total cash considerations of $3.5 million.
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$ (U.S. dollars) Period ended Period ended
December 31, 2012 December 31, 2011
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Working Capital 38,033,211 35,835,451
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Exploration and Evaluation Assets 49,227,831 59,697,822
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Total Assets 111,376,288 117,484,383
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Funds used in Operations 3,214,685 1,732,782
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Comprehensive Loss 17,657,062 11,982,250
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Net Loss per Share, basic and diluted 0.04 0.02
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All amounts expressed above are in US dollars.
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Complete reports and statements are available on SEDAR at www.sedar.com and on the Company website www.petrodorado.com.
About Petrodorado Energy Ltd.
Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is located in Calgary, Alberta, Canada and Petrodorado's common shares are traded on the TSXV under the trading symbol "PDQ".
For further information, please contact:
Krishna Vathyam, Chairman, President and CEO
Chris Reid, VP of Finance and CFO
(403) 930-7544
Email: info@petrodorado.com
Website: www.petrodorado.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, please click on the following link:
http://www.usetdas.com/pr/petrodorado04252013.pdf
Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com
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