Brief: Glori Energy posts Q4 adj. loss $0.14/shr

Glori Energy

23/03/2016 10:00

March 23 (Reuters) - Glori Energy Inc  GLRI.O      
    * Q4 loss per share $0.85 
    * Q4 adjusted loss per share $0.14 excluding items 
    * Q4 revenue $1.8 million versus $3.8 million 
    * Says capital expenditures for 2016 fiscal year are 
expected to total approximately $1.0 million 
    * Cost reductions implemented in q1 that are estimated to 
result in annualized cost benefit of approximately $3 million 
    * Total production in q4 of 2015 decreased approximately 5% 
from q3 2015 production 
    * Q4 2014 production was 525 net boe/d, down 5 percent from 
q3; average realized oil price of $67.04 
    * Glori energy reports fourth quarter 2015 operating and 
financial results 
    * Says continuing to pursue acquisition of oil properties 
that are appropriate for implementation of its aero system 
    * Glori energy says will likely need to raise additional 
financing to fund operations and repay $10.3 million outstanding 
gep term loan maturing march 2017 
 
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