Petrodorado Files Financial Results and Management Discussion & Analysis for the Third Quarter of 2012
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES
Calgary, Alberta CANADA, November 22, 2012 /FSC/ - Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSXV-PDQ), has filed its interim Financial Results and Management Discussion & Analysis for the three and nine months ended September 30, 2012.
Financial Statements
Highlights include:
- As at September 30, 2012, the Company has $61.8 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.
- During the quarter, the Company executed an agreement with the operator of Peru Blocks 135 and 138 to divest its 45% beneficial interest for a sum of $15.3 million.
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$ (U.S. dollars) Period ended September Period ended September
30, 2012 30, 2011
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Working Capital 42,325,163 36,844,219
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Exploration and 59,741,834 54,558,672
Evaluation Assets
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Total Assets 127,802,388 119,385,586
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Funds used in (2,571,681) (1,311,318)
Operations
(nine months)
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Funds from (used in) (632,746) 240,024
Operations
(three months)
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Net Loss (1,084,508) (5,290,618)
(nine months)
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Net Income 1,040,833 2,820,055
(three months)
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Net Loss per Share, (0.00) (0.01)
basic and diluted
(nine months)
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Net Income per Share, 0.00 0.01
basic and diluted
(three months)
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All amounts expressed above are in US dollars.
Complete reports and statements are available on SEDAR at http://www.sedar.com and on the Company website http://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
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 webpage, please click on the following link:
http://www.fscwire.com/pr/petrodoradonov222012.htm
Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com
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