Brief: Oryx Petroleum Corporation says qtrly revenue fell to $1.5 mln

Forza Petroleum

16/03/2016 20:31

March 16 (Reuters) - Oryx Petroleum Corporation Ltd 
 OXC.TO : 
    * Qtrly revenue $1.5 million versus  $7.8 million 
    * Limited production and oil sales in January and February 
2016 due to temporary Turkey - Iraq border closures 
    * Headcount in Geneva, Switzerland to be reduced from 72 to 
15 
    * Vance querio, previously chief operating officer, 
appointed to assume Michael Ebsary's responsibilities as CEO 
    * Expect productive capacity of fields in Hawler license 
area to exceed 10,000 bbl/d by end of 2016 
    * Q4 earnings per share view $-0.05, revenue view $1.4 
million -- Thomson Reuters I/B/E/S 
    * Limited production and oil sales in jan and feb 2016 due 
to temporary turkey - iraq border closures and restrictions on 
export by trucking 
    * Expects cash on hand at dec 31, 2015 , cash proceeds, 
funding related to zeg oil investment, to fund cash expenditures 
into Q2 2017 
    * Qtrly loss per share $0.75 
    * Re-Forecasted cash capital expenditures for 2016 are $62 
million , reduced from previous budget of $90 million 
    * Overall headcount to be reduced from 245 as of june 30, 
2015 to 104 upon expiration of notice periods 
    * 2016 capital expenditure reduction reflects revised plans 
at Zey Gawra field per strategic transaction with Zeg Oil 
    * Qtrly working interest production 75,000 bbl versus 
168,000 bbl 
 
Source text for Eikon:  ID:nCNWNqb8da  
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