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BRIEF-Transatlantic Petroleum Q2 loss per share from cont ops $0.16 - SEC filing

Published 2016-08-10, 05:14 p/m
© Reuters. BRIEF-Transatlantic Petroleum Q2 loss per share from cont ops $0.16 - SEC filing
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Aug 10 (Reuters) - Transatlantic Petroleum Ltd TNP.TO :

* Q2 revenue $17.7 million versus $25.1 million; q2 loss per share from continuing operations $0.16

* "Our operations have not been impacted by july 15, 2016 attempted coup in Turkey"

* In June, Bahar-6 well went offline due to downhole equipment failure and, company lost approximately 280 of boepd for 20 days

* Further 2016 capital investment timing to be dependent upon cash flows, completion of company's debt restructuring, refinancing

* Expects to perform additional production optimization work in Selmo field following completion of pipeline upgrades

* Net loss for Q2 of 2016 included a $3.2 million unrealized loss on its commodity derivatives

* Average daily net sales volumes from continuing operations about 4,335 barrels of oil equivalent per day in Q2 versus 4,787 boepd in Q1

* "Still in process" of installing a flare gas fueled electrification of Bahar field - SEC filing Source text - Further company coverage: TNP.TO

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