New Stratus Energy Inc. is pleased to announce it has entered into definitive agreements with an arm's-length vendor for the acquisition of an initial 49% equity interest in Operaciones Petroleras Soledad S. de R.L. de C.V. , a private Mexican oil & gas company, with the exclusive right for NSE to negotiate the purchase up to an additional 41% of the equity interest in OPS, as described in further detail below . OPS is [...]
New Stratus Energy Inc. is pleased to announce the consolidated financial and operating results for the year ended December 31, 2023 that have been filed on SEDAR + . Year ended December 31, 2023 Highlights: Working Capital : $44,085,970 Adjusted Working Capital : $52,613,872 Net Income : $ Notes: Assumes the exercise of 12,992,100 warrants and 8,085,000 options. In accordance with Canadian GAAP, Net Income per basic [...]
New Stratus Energy Inc. is pleased to announce an update from GoldPillar International Fund SPC Ltd. , on activities in the Lido-Limón and Oficina fields, assigned to the joint venture Petrolera Vencupet S.A. , of which Goldpillar is a shareholder with a 40% stake . During the first two months of 2024, two reactivations were carried out on the LZ-621 and NG-522 wells, both located in the Lido-Limon field by replacing and [...]
New Stratus Energy Inc. is pleased to announce the closing of the acquisition of a 50% indirect interest in GoldPillar International Fund SPC Ltd. , a private entity organized and existing under laws of the British Virgin Islands, which has acquired a 40% equity participation in a joint venture company, Petrolera Vencupet, S.A. , which holds the oil production rights for the fields named "Adas", "Lido", "Limon", "Leona [...]
New Stratus Energy Inc. is pleased to announce that the consolidated financial and operating results for the three and nine months ended September 30, 2023 have been filed on SEDAR+ . Q3 2023 Highlights: Working Capital at the end of Q3 of $44,863,108 Net Income for Q3 of which is slightly higher than the previous quarter primarily due to legal costs associated with pending acquisitions and the continued dispute with the [...]
New Stratus Energy Inc. is pleased to announce that the consolidated and operating results for the three and six months ended June 30, 2023 have been filed on SEDAR+ . Q2 2023 Highlights: Working Capital at the end of Q2 of $47,533,781 Net Income for Q2 of Corporate Updates: As disclosed on May 30, 2023, the Corporation has signed an MOU with a vendor to acquire operatorship and a high working interest in a light oil [...]
New Stratus Energy Inc. announces the signing of a MOU with GoldPillar International Fund SPC Ltd. , a private entity organized and existing under the laws of the British Virgin Islands and which is in negotiations with Petroleos de Venezuela S.A. , the Venezuelan national oil company, to partner in mixed companies to develop oil and gas assets in Venezuela. New Stratus will beneficially hold a 50% equity interest in [...]
New Stratus Energy Inc. announces that during the period of negotiations between Petrolia S.A. , a wholly-owned subsidiary of New Stratus, and the Government of Ecuador, specifically the Ministry of Energy and Mines , because of the Notice of Controversy submitted by Petrolia in November 2022 in accordance with Clause 33 of the Petroleum Contracts for Blocks 16 and 67, the Consortium Block 16 has been notified of a final [...]
New Stratus Energy Inc. is pleased to announce that it has entered into a Memorandum of Understanding with a vendor to acquire operatorship and a high working interest in a light oil production block. Confirmatory due diligence is ongoing and specific acquisition details will be provided upon signing of a definitive agreement. Additionally the consolidated financial and operating results for the three months ended March [...]
New Stratus Energy Inc. is pleased to announce its consolidated financial and operating results for the nine months ended December 31, 2022. Nine Month Highlights : Revenues of $93.3 million Funds flow from operations1 of $25.1 million Adjusted EBITDA1 of $30.9 million Adjusted working capital 1of $34.6 million . This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading "Non-GAAP [...]
New Stratus Energy Inc. is pleased to provide the following updates: Corporate Updates The Corporation has successfully completed all 2022 year end accrued sales of crude and expects to maintain the cash and receivables per share of CAD$0.30 as at March 31, 2023, as previously announced. The Corporation is changing its year end from March 31 to December 31 effective immediately; accordingly, a stub 9 month year end for [...]
New Stratus Energy Inc. announces that following a meeting in Quito, Ecuador among the Corporation and the President of Ecuador, Guillermo Lasso and his Minister of Energy, Fernando Santos, the Government of Ecuador informed the Corporation and its advisors that it does not intend to fulfill its legal and contractual obligation to appoint the required Negotiations Committee for the extension and migration of the contracts [...]
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