Petrodorado Files Financial Results and Management Discussion Analysis for the Second Quarter Of 2011
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta CANADA, August 30, 2011 /FSC/ - Petrodorado Energy Ltd. (PDQ - TSX Venture), has filed its Interim Financial Results and Management Discussion Analysis for the three and six months ended June 30, 2011.
Financial Statements
Highlights include:
- Generated oil and gas revenues of $2.3 million, the revenue were the result of the sale of 20,269 bbls at an average price of $112 per barrel of oil.
- Completed acquisition of 558 Km 2D seismic in Block 138 in Peru.
- Identified over 50 prospects and leads on the CPO-5 block in Colombia
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$ (U.S. dollars) Period ended Period ended
June 30, 2011 June 30, 2010
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Working Capital 39,618,498 42,014,032
Exploration and Evaluation Assets 53,536,271 16,206,470
Property, Plant Equipment 15,562,362 6,575,387
Total Assets 125,475,106 77,746,663
Funds used in Operations -six months (1,551,342) (887,548)
Funds used in Operations (three months) (754,709) (768,996)
Net income (loss) (six months) (8,110,673) (3,293,273)
Net income (loss) (three months) (2,636,055) 1,211,652
Net income (loss) per share,
basic and diluted (six months) (0.02) (0.01)
Net income (loss) per share,
basic and diluted (three months) (0.01) 0.00
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All amounts expressed above are in US dollars.
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, Peru and Paraguay. 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, President and CEO
Sean Bovingdon, CFO
(403) 235-2804
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.
PETRODORADO ENERGY LTD.
Suite 2688 Bow Valley Square III
255 - 5 Ave S.W.
Calgary, Alberta, Canada, T2P 3G6
Tel: (403) 235-2804
Fax: (403) 235-2817
To view this press release as a web page, click onto the link below:
http://www.usetdas.com/pr/petrodorado08302011.htm
Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com
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