Brief: Glori Energy Q4 loss per share $0.37

Glori Energy

12/03/2015 10:00

March 12 (Reuters) - Glori Energy Inc  GLRI.O : 
 * Reports fourth quarter and full year 2014 operating and financial results 
 * Q4 loss per share $0.37 
 * Q4 revenue rose 390 percent to $3.8 million 
 * Q4 oil and gas production volumes increased to 525 net barrels of oil 
   equivalent per day ("boe/d") from 502 boe/d in Q3 2014 
 * E&p companies have sharply reduced their capital outlays for 2015, which has 
   impacted our aero technology services business" 
 * Says company recognized a $6.8 million gain on commodity derivatives in the 
   latest quarter 
 * Pursuing acquisition of oil properties, which it expects to fund from 
   existing cash balances 
 * Due to sharply lower oil and gas prices at 2014, recognized $13.2 million 
   asset impairment on the value of oil and gas properties 
 
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