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August 30, 2015 10:40 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Arcan Resources Ltd.

Company Overview

Arcan Resources Ltd. engages in the exploration, development, and production of petroleum and natural gas in Western Canada. It holds assets primarily in the Swan Hills area, which is located northwest of Edmonton, Alberta. The company is headquartered in Calgary, Canada. As of June 5, 2015, Arcan Resources Ltd. operates as a subsidiary of Aspenleaf Energy Ltd.

500–4th Avenue SW

Suite 2200

Calgary, AB T2P 2V6

Canada

29 Employees

Phone:

403-262-0321

Fax:

403-262-4636

Key Executives for Arcan Resources Ltd.

Chief Executive Officer, Director, Chairman of Environment, Health & Safety Committee, Chairman of Reserves Committee and Member of Audit Committee
President, Director and Member of Audit Committee
Chief Financial Officer and Vice President of Finance
Chief Operating Officer
Age: 57
Executive Vice President
Compensation as of Fiscal Year 2015.

Arcan Resources Ltd. Key Developments

Arcan Resources Ltd., Special/Extraordinary Shareholders Meeting, Jun 02, 2015

Arcan Resources Ltd., Special/Extraordinary Shareholders Meeting, Jun 02, 2015., at 09:00 Mountain Daylight. Location: Viking Room of the Calgary Petroleum Club, 319 - 5th Avenue S.W.. Agenda: To consider and approve a plan of arrangement under Section 193 of the Business Corporations Act (Alberta), all as more particularly described in the Information Circular; and to transact such other business, including amendments to the foregoing, as may properly be brought before the Meeting or any adjournment or postponement thereof.

Arcan Resources Ltd. Reports Audited Consolidated Earnings and Operating Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Operating Guidance for the First Quarter and Full Year of 2015

Arcan Resources Ltd. reported audited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported petroleum and natural gas revenue of $21,692,000 against $25,811,000 a year ago. Cash flow from operating activities was $14,059,000 against $11,466,000 a year ago. Funds from operations were $13,496,000 or $0.14 per share basic and diluted against $7,744,000 or $0.08 per share basic and diluted a year ago. Net loss was $101,673,000 or $1.04 per share basic and diluted against $17,988,000 or $0.18 per share a year ago. Capital expenditures, net cash were $14,959,000 against $2,073,000 a year ago. For the year, the company reported petroleum and natural gas revenue of $119,064,000 against $122,835,000 a year ago. Cash flow from operating activities was $38,847,000 against $58,301,000 a year ago. Funds from operations were $41,981,000 or $0.43 per share basic and diluted against $45,797,000 or $0.47 per share basic and diluted a year ago. Net loss was $109,458,000 or $1.12 per share basic and diluted against $24,518,000 or $0.25 per share a year ago. Capital expenditures, net cash were $33,068,000 against $30,806,000 a year ago. Net debt was $289,940,000 against $313,311,000 a year ago. For the quarter, the company reported crude oil and NGLs production of 3,428 bbls per day against 3,433 bbls per day a year ago. Operating net back was $36.00 BOE against $44.48 BOE a year ago. For the year, the company reported crude oil and NGLs production of 3,712 bbls per day against 3,781 bbls per day a year ago. Operating net back was $53.78 BOE against $52.98 BOE a year ago. For the first quarter of 2015, the company expects production to average 3,500 BOE per day in first quarter of 2015 as the company experienced a pipeline issue which has been rectified. For the year 2015, the company expects production to average 3,300 to 3,600 BOE per day during 2015.

Arcan Resources Ltd., Annual General Meeting, Jun 17, 2015

Arcan Resources Ltd., Annual General Meeting, Jun 17, 2015., at 15:00 US Eastern Standard Time. Location: McMurray Room of the Petroleum Club.

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