Petrodorado Files Financial Results and Management Discussion & Analysis for the First Quarter of 2015 and Provides a Company Update
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DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSXV-PDQ) has filed its interim Financial Results and Management Discussion & Analysis for the three months ended March 31, 2015 and provides a Company update.
FINANCIAL STATEMENTS
Highlights include:
- Total available funds of $14.6 million *
- Working capital of $11.0 million, plus $2.6 million in non-current restricted cash.
|
$ (U.S. dollars) |
Period ended March 31, 2015 |
Period ended March 31, 2014 |
|
Available funds * |
14,615,681 |
17,227,411 |
|
Working Capital |
11,007,470 |
15,879,882 |
|
Exploration and Evaluation Assets |
10,700,000 |
65,164,805 |
|
Total Assets |
31,863,162 |
94,373,974 |
|
Funds used in Operations |
586,227 |
1,071,764 |
|
Net Loss |
157,963 |
1,209,476 |
|
Net Loss per Share, basic & diluted |
0.00 |
0.03 |
* Constitutes the sum of cash and cash equivalents and short-term investments.
Complete reports and statements are available on SEDAR at www.sedar.com and on the Company website www.petrodorado.com.
COMPANY UPDATE
On May 21, 2015, an Engineering, Procurement and Construction Agency Contract (“EPC Contract”) was finalized between Petrodorado and the CPO-5 operating partner. Under the terms of this EPC Contract, the operating partner has appointed Petrodorado as technical advisor to drill, test, complete and conduct field operations of the upcoming Loto-2 well project.
About Petrodorado Energy Ltd.
Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia and California USA. 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:
Chris Reid, Interim President and CEO
Phone: (403) 800-9240
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, click onto the following link:
public://news_release_pdf/PetrodoradoMay282015.pdf
Source: Petrodorado Energy Ltd. (TSX Venture:PDQ) http://www.petrodorado.com/
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