Brief: Glori Energy Q4 coke total production 525 net boe/d

Glori Energy

16/01/2015 11:00

Jan 16 (Reuters) - Glori Energy Inc  GLRI.O : 
 * Provides operations update 
 * Says expect to report service revenues totaling approximately $600,000 to 
   $650,000 for the fourth quarter 
 * Q4 service revenues from third party customers were lower than our 
   expectations" 
 * Says announces collaborative research and development agreement with Alberta 
   innovates technology futures and several Canadian oil companies 
 * Says currently expect to complete the unitization process in early second 
   quarter 
 * Total production for quarter was 525 net barrels of oil equivalent per day up 
   from 502 net boe/d in Q3 from coke field 
 * Expect lower-than-projected revenues for Q4 to be partially offset by lower 
   expense levels compared to the previous quarter 
 * Coke total production for quarter was 525 net barrels of oil equivalent per 
   day ("boe/d"), up from 502 net boe/d 
 * Partnership to characterize, optimize and expand glori's aero system to 
   increase oil recovery in Alberta reservoirs 
 * Service revenues from third party customers in Q4 were lower than 
   expectations due to postponement of substantial project in China 
 
 * Source text for Eikon  ID:nPn78jP8x  
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