Petrodorado loses $543,008 (U.S.) in Q1
2012-05-25 18:28 ET - News Release
Mr. Krishna Vathyam reports
PETRODORADO FILES FINANCIAL RESULTS, MANAGEMENT DISCUSSION & ANALYSIS
Petrodorado Energy Ltd. has filed its interim financial results and management's discussion and analysis.
Financial statements
Highlights include:
Working capital of $34.4-million, plus $13.6-million in restricted cash, for a total of $48-million to be used in exploration activities and general operations.
FINANCIAL HIGHLIGHTS (in U.S. dollars)
Period ended Period ended March 31, 2012 March 31, 2011
Total revenue $208,370 $24,204 Funds used in operations (589,866) (796,633) Net loss and comprehensive loss 543,008 3,318,978 Net loss per share, basic and diluted 0.01 0.01
Correction to previously filed oil and gas annual disclosure
Further to its oil and gas annual disclosure filing (Form 51-101 F1), Item 4.1 (reserves reconciliation), issued on April 19, 2012, Petrodorado announces a non-material correction. The total numbers remain the same, but the revised table has corrected numbers for economic factors under the categories proved and proved plus probable (258.1) and in production for the categories proved and proved plus probable (30.4).
Complete reports and statements are available on SEDAR and on the company website.
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