Canacol Energy Swings To Q1 Profit

Canacol Energy Ltd

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.