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Canacol Energy Swings To Q1 Profit

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Canacol Energy Ltd (OTC: CAAEF) swung to a first-quarter profit.

Canacol Energy posted a quarterly profit at $13.4 million, or $0.03 per share, versus a year-ago loss of $30 million, or $0.07 per share. Its revenue jumped to $35.3 million.

Canacol's funds from operations surged around 129% to $17.8 million, or $0.03 per share. Its average daily sales volumes jumped about 170% to 9,910 barrels of oil per day (boepd).

Canacol Energy shares closed at $0.69 yesterday.

 

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