Rooster Energy Ltd. Announces Unaudited Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2015
For the nine months period, the company reported revenue of $44,052,395 against $65,983,525 a year ago. Operating income was $2,021,390 against $9,034,494 a year ago. Loss before income tax expense was $3,618,422 against $1,118,814 a year ago. Loss was $4,300,422 or $0.01 per diluted share against income of $981,814 or $0.00 per diluted share a year ago. EBITDAX was $12,743,518 against $13,606,156 a year ago.
For the quarter, the company's production averaged 2,230 boepd, down 25% from year-ago levels. Lower production volumes were due to the partial abandonment of the West Delta 44/45 field, which ceased production in June, 2015, and significant downtime at Vermilion 376.
For the nine months period, the company's production volumes are up 16% over 2014 levels.