Quattro Exploration and Production Ltd. reported earnings and production results for the full year ended December 31, 2015. The company reported a CAD 0.08 per share loss due to a number of non-reoccurring charges totaling CAD 4,488,200 while increasing reserves on a 2P basis by 166% at a cost of CAD 4.80 per boe. Despite the almost 48% decrease in world oil (WTI) and 40% decrease in natural gas prices in 2015 from 2014, the Company realized gross revenues of CAD 15,038,644 in 2015, representing a modest reduction of only 16.5% compared to gross revenues of CAD 18,003,800 in 2014. 2015 was a challenging year for the industry and Quattro was not immune, realizing CAD 4,488,203 in expenses for non-recoverable partner expenses (due to partner receiverships and bankruptcies), and administrative restructuring charges, which are in management's opinion non-recurring in nature and therefore will not impact future profitability of the Company. Net income (net of non-reoccurring expenses) was CAD 846,769. Net debt (excluding decommissioning liabilities & deferred taxes) was CAD 11,100,855.

At December 31, 2015, the Company's restricted exit production was 1,580 boe/day, representing a 4% increase from December 31, 2014. The Company's average production was 1,546 boe/day for the 304 (net) days that were available which resulted in an annualized average production rate of 1,288 boe/d.