Thursday, July 4, 2013

TORC Oil & Gas Ltd. - TOG.t

TORC Oil & Gas Ltd. - TOG.t is a light oil producer with a large inventory of Cardium light oil development assets complemented by assets in the emerging Monarch light oil resource play in the southern Alberta Bakken petroleum system.

The company completed the acquisition of Vero Energy Inc. in November, 2012. Exit production for 2012 was 4,900 boepd (75% light oil and NGLs)











On May 14, 2013 the company reported Q1 numbers.

The Company's achievements in the first quarter of 2013 include the following:
 The Company executed its first Cardium development drilling program drilling 9 (5.6 net) Cardium wells with a 100 percent success rate;
 Increased production to 4,240 boepd in the first quarter of 2013 from 883 boepd in the first quarter of 2012, representing a year over year increase of 380 percent;
 Production increased 68 percent over the fourth quarter of 2012;
 Cash flow increased to $15.3 million in the first quarter of 2013 from $3.8 million in the first quarter of 2012, a year over year increase of over 300 percent;
 Cash flow per share increased to $0.08 per share in the first quarter of 2013 from $0.03 per share in the first quarter of 2012, a year over year increase of 166 percent;
 Cash flow increased 260 percent over the fourth quarter of 2012 while cash flow per share increased 166 percent over the fourth quarter of 2012;
 Net income for the first quarter 2013 was $1.1 million compared to a net loss of $2.6 million in the first quarter of 2012;
 At quarter end, the Company was undrawn on its credit facility;
 Subsequent to quarter end the Company increased its credit facility to $125 million.


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On March 12, 2013 the company reported Numbers

CALGARY, ALBERTA ‐ TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three month periods and years ending December 31, 2011 and 2012, and to provide its 2012 year‐end reserves information as evaluated by Sproule Associates Limited (“Sproule”). TORC completed the acquisition of Vero Energy Inc. (“Vero”) effective November 19, 2012 and all figures are pro forma Vero as of that date.

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http://pennystockjournal.blogspot.com/2013/07/torc-oil-gas-ltd-togt.html


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