11:00:43 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



3MV Energy Corp
Symbol TMV
Shares Issued 56,249,911
Close 2015-11-27 C$ 0.015
Market Cap C$ 843,749
Recent Sedar Documents

3MV loses $1.27-million in Q3

2015-11-27 19:01 ET - News Release

Mr. Dallas Duce reports

3MV ENERGY ANNOUNCES THIRD QUARTER 2015 RESULTS

3MV Energy Corp. has released its financial and operating results for the three- and nine-month periods ended Sept. 30, 2015. 3MV's unaudited financial statements and related management's discussion and analysis for the three- and nine-month period ended Sept. 30, 2015, have been filed and are available on the SEDAR website and on the company's website.

                                FINANCIAL AND OPERATING HIGHLIGHTS

                                         Three months    Three months     Nine months     Nine months  
                                                ended           ended           ended           ended        
                                       Sept. 30, 2015  Sept. 30, 2014  Sept. 30, 2015  Sept. 30, 2014
Average daily production
Crude oil and NGL (bbl/d)                        62.4            76.2            92.8            69.6
Natural gas (Mcf/d)                              27.7            47.9            26.8            57.6
Total (boe/d)                                    67.0            84.2            97.3            79.2
Average sales prices
Crude oil and NGL (bbl/d)                      $51.87          $92.88          $54.34          $95.74
Natural gas (Mcf/d)                              2.65            3.94            2.46            4.72
Operating netbacks ($/boe)
Average realized sales price                    49.39           86.31           52.53           87.56
Royalty expense                                  2.65            3.23            3.70            4.36
Operating and transportation expense            30.99           36.80           26.81           40.50
Operating netback                               15.75           46.27           22.01           42.69

($000s, except per-share numbers)
Petroleum and natural gas revenues,
before royalties                                 $304            $669          $1,395          $1,893
Funds used in operations                         (375)             18            (899)            (59)
Per share -- basic and diluted                  (0.01)          (0.00)          (0.02)          (0.00)
Net earnings (loss)                            (1,270)           (351)         (2,676)         (4,791)
Per share -- basic and diluted                  (0.02)          (0.01)          (0.05)          (0.09)

Outlook

In the current environment of depressed global commodity prices, the corporation plans to be conservative, moving forward, working to conserve cash flow and to select drilling locations that are economically viable. The corporation plans to work with its joint venture partner to evaluate production results at Fiske with the goal of creating a long-term exploitation strategy. 3MV Energy is also exploring potential accretive acquisitions, mergers and farm-in opportunities in Saskatchewan that are arising from the current economic state.

We seek Safe Harbor.

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