Point Loma Resources Ltd. is pleased to announce a farm-out on the Corporation's evolving Wizard Lake Rex oil discovery and provides an operational update. Highlights: Point Loma's current 30% working interest partner, Salt Bush Energy Ltd. , has agreed to a two well farm-in transaction with Point Loma at Wizard Lake whereby Salt Bush will incur [...]
Point Loma Resources Ltd. is pleased to report financial and operating results for the three months ended March 31, 2019. Highlights of the period and additional updates are summarized below: Q1 - 2019 Financial and Operating Results Three months ended March 31 2019 2018 Financial Petroleum and natural gas revenue 1,528 1,201 Cash flow used in [...]
Point Loma Resources Ltd. is pleased to report financial and operating results for the three months and year ended December 31, 2018. The results for 2018 are summarized below: 2018 Financial and Operating Results Three months ended December 31 Year ended December 31 2018 2017 2018 2017 Financial Petroleum and natural gas revenue 1,165 1,114 5,721 [...]
Point Loma Resources Ltd. is pleased to report the results of its 2018 year-end reserves as evaluated by McDaniel and Associates Ltd. and provide an update on operations. Highlights: Proved producing reserves increased 35 percent year over year. Total proved plus probable reserves of 5,284 mboe and proved reserves of 2,967 mboe for the Corporation [...]
Pursuant to the early warning requirements of applicable Canadian securities law, Bruce Mitchell announces that on February 26, 2019, he acquired 500,000 common shares of Point Loma Resources Ltd., at a purchase price of .18 per share for an aggregate purchase price of $90,000.00. The transaction was completed pursuant to an open market purchase [...]
Point Loma Resources Ltd. is pleased to announce production test results for the Wizard Lake HZ 16-17-48-27W4 Rex oil pool discovery. Highlights Final pumping rate for the Rex horizontal well over last 24 hours of the test period was 305 barrels per day of oil and 340 barrels of oil equivalent per day . Point Loma's share of oil production at this [...]
Point Loma Resources Ltd. is pleased to announce the timing of the listing of warrants issued on October 25, 2018. In addition the Corporation is providing updated operational information. Highlights The Wizard Lake Rex horizontal oil well has been successfully drilled and completed with a 28 stage frac program. An average of 27 tonnes of sand per [...]
Point Loma Resources Ltd. is pleased to announce the casing of the Corporation's recently captured Rex oil opportunity. In addition, the Corporation is providing updated operational information. Highlights Rex oil horizontal was cased on December 2, 2018. The well is expected to be completed and evaluated prior to year-end. Completion plans for the [...]
Point Loma Resources Ltd. is pleased to announce that it has closed a previously announced agreement to sell a minor interest in a gas property. The sale price of the non-core disposition is approximately $350,000 net to Point Loma, before customary closing adjustments, and has been paid in cash. Highlights Point Loma and Salt Bush Energy have [...]
Point Loma Resources Ltd. is pleased to announce the spudding of the Corporation's recently captured Rex oil opportunity. Additional highlights from recently released third quarter results are also noted below and full results are available on SEDAR. Highlights Rex oil horizontal was spudded November 24. Once drilled, the well is expected to be [...]
Point Loma Resources Ltd. is pleased to report financial and operating results for the three and nine months ended September 30, 2018. Highlights of the period and additional updates are summarized below: HIGHLIGHTS Average daily production has increased to 977 boe/d for the third quarter of 2018, representing a 61% increase compared to the three [...]
Point Loma Resources Ltd. is pleased to announce, further to the Corporation's recent entrance into the Rex oil play in the Leduc area of Alberta and additional work-up of a new Lower Mannville oil pool opportunity to the south of its existing Paddle River development, it has now received two well licenses, has commenced lease building activities [...]
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