Market Impact: Neutral. Bankers reported 1Q16 production of 17,363 bbl/d and cash flow of US$1.5 mm. Cash flow was weaker than expected, due to lower than anticipated sales volumes and realized pricing. FirstEnergy was forecasting cash flow of approximately US$11 mm. The 1Q16 results are overshadowed by the pending acquisition by Geo-Jade Petroleum.

05 May 2016
BANKERS PETROLEUM'S 1Q16 RESULTS OVERSHADOWED BY PENDING ACQUISITION BY GEO-JADE PETROLEUM

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BANKERS PETROLEUM'S 1Q16 RESULTS OVERSHADOWED BY PENDING ACQUISITION BY GEO-JADE PETROLEUM
Big Banc Split Corp. Class A (BNK:TSE) | 0 0 0.0%
- Published:
05 May 2016 -
Author:
Darren B. Engels -
Pages:
2 -
Market Impact: Neutral. Bankers reported 1Q16 production of 17,363 bbl/d and cash flow of US$1.5 mm. Cash flow was weaker than expected, due to lower than anticipated sales volumes and realized pricing. FirstEnergy was forecasting cash flow of approximately US$11 mm. The 1Q16 results are overshadowed by the pending acquisition by Geo-Jade Petroleum.