May 16 (Reuters) - Tesla Exploration Ltd TXL.TO
* Qtrly loss per basic share $1.11
* Delays of significant projects in Africa and UK have
worsened company's outlook for 2016
* Says continues to face many challenges in its attempt to
maintain its operations and improve its financial stability
* Visibility into near term demand is limited and Tesla
continues to seek ways to reduce costs & increase flexibility
from its lender
* Continues to report as going concern, contemplating assets
to be realized, liabilities discharged in normal course of
business as they come due
* Tesla reports 2016 first quarter results and provides
update on credit facilities and going concern
* Q1 revenue fell 32 percent to c$17.8 million
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