Market Overview

Canacol Energy Swings To Q3 Profit


Canacol Energy Ltd (OTC: CAAEF) swung to a profit in its third quarter.

Canacol Energy posted its quarterly net income at $3.7 million, or $0.01 per share, versus a year-ago loss of $852,000. Its funds from operations climbed to $20 million, or $0.03 per share, from $13.5 million, or $0.03 per share.

Its total revenue climbed 51% to $48.6 million. However, average daily sales volumes jumped 27% to 12,742 barrels of oil.

Canacol Energy shares closed at $0.6930 yesterday.


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