Mr. Alex Verge reports - JOURNEY ENERGY INC. REPORTS ITS FIRST QUARTER 2017 FINANCIAL RESULTS

 

Journey Energy Inc. has released its financial results for the first quarter of 2017. The complete set of financial statements and management discussion and analysis for the periods ended March 31, 2017 and 2016 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca.

 

Highlights for the first quarter and to date are as follows:

Renewed the Company's credit facility at $125 million, a 39% increase from the previous amount of $90 million. Total net debt is approximately $95 million, including bank borrowings, working capital, and $30 million of term debt.

Vancouver, British Columbia--(Newsfile Corp. - May 4, 2017) - Molori Energy Inc. (TSXV: MOL) (OTCQB: MOLOF) ("Molori" or the "Company") is pleased to provide an operational and National Instrument 51-101 reserve report ("NI 51-101") update.

 

Molori currently owns a 25 percent working interest in certain leases located in the bifurcated Texas panhandle owned by Texas-based independent oil and gas producer Ponderosa Energy, LLC ("Ponderosa").  This latest NI 51-101 covers 77 of the leases in which Molori holds a working interest.

 

In summary, the initial projected average production was 40 barrels of oil equivalent per day ("BOEPD")* in June 2016, when Molori made its first investment into Ponderosa.  For the month of March 2017, production averaged 412 BOEPD, a ten-fold increase in daily average production. This production increase is due primarily to an aggressive work-over campaign to return non-producing wells to production, while keeping Lease Operating Expenses ("LOE") below USD$15 per barrel due to tight cost controls.

HOUSTON, TX and NEUQUEN CITY, ARGENTINA--(May 3, 2017) - Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the "Company") announced today that the Company has been awarded a two-year contract with the largest operator in Argentina for their tight gas completions program. The effective date for this contract was April 1, 2017 and substantial work has already been executed under this contract. This contract will provide a guaranteed minimum level of compensation to EcoStim (roughly 40% of the contract value) although the operator expects the completion program to generate over $50 million in completions work over the contract's term. As tight gas drilling expands over the next several years in Argentina with the benefit of government supported natural gas prices, this relationship should provide the Company with a unique opportunity to participate in further growth opportunities.

All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), adjusted cash flow from operating activities ("adjusted cash flow") and total enterprise value which are financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"). For more information about these metrics, see "Non-GAAP Measures" herein.

 

CALGARY, ALBERTA--(May 1, 2017) - Pembina Pipeline Corporation (TSX:PPL)(NYSE:PBA) ("Pembina" or the "Company") and Veresen Inc. (TSX:VSN) ("Veresen") are pleased to announce they have entered into an arrangement agreement to create one of the largest energy infrastructure companies in Canada with a pro-forma enterprise value of approximately $33 billion (the "Transaction").