Thursday May 15, 09:02 AM
Emerald Energy Q1 pretax profit $6.20 mln; revenues from oil sales $12.96 mln
LONDON (Thomson Financial) - Emerald Energy Plc. said its pretax profit for the quarter ended March was $6.20 million while its revenues from oil sales in the period were $12.96 million.
The company said its production at Colombia
from Dec. 31 to May 12 was lower than planned due to the previously reported replacement of an electrical submersible pump in the Gigante no. 1A well during February.
The company said it is evaluating options to increase production from the Gigante no. 1A well to the level achieved prior to the pump replacement, and added gross production during April averaged 3,187 barrels of oil per day.
Chief Executive Angus MacAskill, said: 'We are optimistic that our plans for the drilling of at least 4 exploration wells in the current year, financed by cash resources and strong cash flow from our production, will continue to deliver growth for the company and thus enhance shareholder value'.
|
Send Article by Email
