Petrodorado Files Financial Results and Management Discussion & Analysis for the Second Quarter of 2014
27.08.2014 | FSCwire
Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSXV-PDQ) has filed its interim Financial Results and Management Discussion & Analysis for the three and six months ended June 30, 2014.
Financial Statements
Highlights include:
- Working capital of $15.0 million, plus $2.6 million in non-current restricted cash.
| $ (U.S. dollars) | Period ended June 30, 2014 | Period ended June 30, 2013 |
| Available funds * | 18,334,535 | 33,428,794 |
| Working Capital | 15,040,156 | 28,483,615 |
| Exploration and Evaluation Assets | 66,879,689 | 55,963,664 |
| Total Assets | 93,964,288 | 98,858,871 |
| Funds used in Operations (six months) | 2,354,698 | 1,612,459 |
| Funds used in Operations (three months) | 1,282,934 | 1,129,288 |
| Net Income (Loss) (six months) | (2,628,332) | 3,249,829 |
| Net Income (Loss) (three months) | (1,418,856) | 2,173,323 |
| Net Income (Loss) per Share, basic & diluted (six months) | (0.01) | 0.01 |
| Net Income (Loss) per Share, basic & diluted (three months) | (0.00) | 0.00 |
* 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.
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”.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
For further information, please contact:
Petrodorado Energy Ltd.
Gregg Vernon, Interim President and CEO
Chris Reid, VP of Finance and CFO
Phone: (403) 800-9240
Email: info@petrodorado.com
Website: www.petrodorado.com