Dalmac Energy Inc. announced earnings results for the third quarter and nine months ended January 31, 2016. For the quarter, the company's revenues were CAD 6,096,000 compared to CAD 9,545,000 a year ago. EBITDAS was CAD 606,000 compared to CAD 1,190,000 a year ago. Net loss was CAD 297,000 or CAD 0.01 per basic and diluted share, compared to CAD 120,000 or CAD 0.01 per basic and diluted share, a year ago. Third quarter of 2016 is traditionally one of Dalmac's busiest quarters, however, during the quarter various extraordinary factors adversely impacted the earnings recorded for this period. The spot price of WTI crude oil has dropped from CAD 35 per bbl in December 2015 to about CAD 26 per bbl in January 2016. This has placed further pressure on E&P companies to cut capital expenditures, which in turn resulted in the cancellation and or delay of various drilling and completion projects. In addition to dropping oil prices this year's unusually warm winter brought about early spring break up conditions whose effects were even evident in January. These developments placed further downward pressure on activity levels in the oil and gas services sector.

For the year to date, the company's revenues were CAD 17,146,000 compared to CAD 25,355,000 a year ago. EBITDAS was CAD 1,513,000 compared to CAD 3,200,000 a year ago. Net loss was CAD 1,133,000 or CAD 0.05 per basic and diluted share, compared to CAD 267,000 or CAD 0.01 per basic and diluted share, a year ago, despite the drop in revenues.