Brief: Journey Energy Q4 net income per share $1.13

Journey Energy

21/03/2017 02:11

March 20 (Reuters) - Journey Energy Inc  JOY.TO : 
    * Journey Energy Inc. Reports its 2016 financial results, 
announces strategic acquisition, and updates 2017 guidance 
    * entered into a agreement with a private company to acquire 
interests in our central Alberta core for an aggregate price of 
approximately $35.6 million 
    * Says journey achieved production of 8,505 BOE/D (49% 
liquids) in q4, representing a 4% decrease from Q3 levels 
    * agreement consists of comprised of $29.6 million of cash 
and 2.1 million common shares of journey 
    * Says journey realized net income of $1.13 per basic and 
diluted share in Q4 
    * sees annual average production 10,100 BOE/D - 10,500 BOE/D 
    * upon closing of acquisition, co anticipates to be drawn 
approximately $70 million on its existing $90 million syndicated 
credit facility 
    * revised 2017 forecasted funds flow from operations of 
$50-54 million is based upon following average prices 
 
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