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BRIEF-TAG Oil Q1 loss per share $0.04

Published 2015-08-17, 09:10 a/m
© Reuters. BRIEF-TAG Oil Q1 loss per share $0.04
TAO
-

Aug 17 (Reuters) - TAG Oil Ltd TAO.TO :
* Reports increased revenue in Q1 results
* We expect Q2 revenues and cash flow to be below expectations due to lower oil
prices"
* Revenue of $10.4 million during the quarter, a 7% increase compared to $9.7
million for the previous quarter ended March 31,2015
* Says estimates fiscal year 2016 cash flow from operating activities of
approximately CDN$22 million
* Says average net daily production decreased by 8% for the quarter to 1,689
boe/d
* Qtrly total revenue increased by 7% for the quarter to $10.4 million
* Sees 2016 production averaging approximately 1,900 boe/d
* Says can internally fund its adjusted 2016 fiscal year capital expenditure
program of CDN$23 million
* Qtrly loss per share $0.04
* We expect production to increase into Q3 and Q4"

* Source text for Eikon ID:nNrm9kdhzB

* Further company coverage TAO.TO

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