Brief: Madalena Energy Q4 FFO per share $0.01

Centaurus Energy

21/04/2016 14:00

April 21 (Reuters) - Madalena Energy Inc  MVN.V : 
    * Madalena announces fourth quarter and year end 2015 
financial results and provides operations update and 2016 
outlook 
    * Oil and gas production averaged 3,274 boe/d (Q4-2014 - 
4,075 boe/d) for Q4 
    * Qtrly FFO per share $0.01 
    * Company not in a position to provide guidance on its 2016 
capital program 
    * Expects Q1 - 2016 sales volumes to average approximately 
3,000 boe/d 
    * Does not expect forecasted cash flows from operating 
activities to be sufficient to meet anticipated 2016, 2017 
capital commitments 
    * Need to raise capital to fund 2016 and 2017 capital 
commitments creates uncertainty that cast doubt ability to 
continue as going concern 
    * Continues to investigate alternative sources of capital, 
opportunities to extend drilling commitments to address 
liquidity challenges 
    * Is examining alternative sources of capital, including 
potential debt and equity financing and ways to monetize its 
assets 
 
Source text for Eikon:  ID:nCNWTr8vwa  
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