Petrodorado Files 2014 Financial Results, Annual Information Form, and Management Discussion & Analysis and Provides a Company Update
30.04.2015 | FSCwire
Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSXV-PDQ) has filed its 2014 Year Financial Results, Annual Information Form and Management Discussion & Analysis and provides a Company update.FINANCIAL STATEMENTS
Highlights include:
- Total available funds of $16.3 million *
- Working capital of $12.4 million, plus $2.6 million in non-current restricted cash.
| $ (U.S. dollars) | Year ended December 31, 2014 | Year ended December 31, 2013 |
| Available funds * | 16,252,425 | 21,343,485 |
| Working Capital | 12,390,976 | 15,479,607 |
| Exploration and Evaluation Assets | 10,700,000 | 63,907,290 |
| Total Assets | 33,479,435 | 97,192,210 |
| Funds used in Operations | 3,712,243 | 4,487,904 |
| Net Loss for the year | 60,416,458 | 1,345,411 |
| Net Loss per Share, basic and diluted | 1.25 | 0.03 |
* Constitutes the sum of cash and cash equivalents and short-term investments.
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.
COMPANY UPDATE
Management and the Board of Directors continue to perform a cautious re-assessment of the Company’s strategy going forward under the current market conditions. The Company believes that the current portfolio of Colombian assets has the potential to provide significant value to shareholders. Petrodorado is currently evaluating all options available and will continue to do so in a prudent manner. Once Management and the Board of Directors have completed its thorough evaluation, the market will be informed of the Company’s plan for the future.
About Petrodorado Energy Ltd.
Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia and California USA. 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:
Petrodorado Energy Ltd.
Chris Reid, Interim President and CEO
Phone: (403) 800-9240
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.
