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Last C$0.56 CAD
Change Today +0.03 / 5.66%
Volume 20.3K
CDH On Other Exchanges
Symbol
Exchange
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As of 2:39 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

corridor resources inc (CDH) Snapshot

Open
C$0.54
Previous Close
C$0.53
Day High
C$0.56
Day Low
C$0.54
52 Week High
09/5/14 - C$1.93
52 Week Low
08/24/15 - C$0.49
Market Cap
49.6M
Average Volume 10 Days
43.5K
EPS TTM
C$0.04
Shares Outstanding
88.6M
EX-Date
--
P/E TM
13.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for CORRIDOR RESOURCES INC (CDH)

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corridor resources inc (CDH) Details

Corridor Resources Inc., a junior resource company, explores for, develops, and produces petroleum and natural gas properties in eastern Canada. The company explores for petroleum and natural gas onshore in New Brunswick and Québec, as well as offshore in the Gulf of St. Lawrence. Its principal properties include the McCully Field and the Elgin Sub-Basin located in New Brunswick; the Anticosti Island in Québec; and the Gulf of St. Lawrence. As of December 31, 2014, the company had an interest in 27.5 net producing and nonproducing natural gas and oil wells. Corridor Resources Inc. was founded in 1983 and is headquartered in Halifax, Canada.

17 Employees
Last Reported Date: 03/30/15
Founded in 1983

corridor resources inc (CDH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$72.4K
Chief Financial Officer and Secretary
Total Annual Compensation: C$172.1K
Chief Geologist
Total Annual Compensation: C$192.0K
Chief Geophysicist
Total Annual Compensation: C$170.0K
Compensation as of Fiscal Year 2014.

corridor resources inc (CDH) Key Developments

Corridor Resources Inc. Reports Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings and Operating Guidance for the Full Year of 2015

Corridor Resources Inc. reported unaudited earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported sales of CAD 1,372,000 against CAD 3,632,000 a year ago. Net loss was CAD 469,000 against net income of CAD 6,251,000 a year ago. Net loss per diluted share was CAD 0.005 against net income per basic and diluted share of CAD 0.071 a year ago. Cash used in operations was CAD 923,000 against cash from operations of CAD 1,057,000 a year ago. Capital expenditure was CAD 167,000 against CAD 1,818,000 a year ago. The decrease in cash flow from operations was due primarily to the lower natural gas production following the shut-in of most of the wells at the McCully Field. For the six months, the company reported sales of CAD 11,470,000 against CAD 15,345,000 a year ago. Net income was CAD 3,223,000 against CAD 10,260,000 a year ago. Net income per diluted share was CAD 0.036 against net income per basic and diluted share of CAD 0.114 a year ago. Cash flow from operations was CAD 6,689,000 against CAD 9,130,000 a year ago. Capital expenditure was CAD 712,000 against CAD 2,623,000 a year ago. For the quarter, the company reported natural gas production per day of 2.9 mmscf against 7.2 mmscf a year ago. Barrels of oil per day were 478 boe against 1,196 boe a year ago. For the six months, the company reported natural gas production per day of 4.9 mmscf against 7.4 mmscf a year ago. Barrels of oil per day were 815 boe against 1,228 boe a year ago. The company has decreased its cash flow from operations forecast in 2015 from CAD 8.7 million to CAD 6.3 million to reflect the expected decrease in the estimated average net daily gas production from 4.1 mmscfpd to 3.4 mmscfpd in 2015 due to the lower than forecast natural gas demand by Potash Corp. during the shut-in period and the decision to extend the shut-in period for several wells until December and January to optimize the recovery of flush volumes with expected peak pricing at AGT. Based on available working capital of CAD 20.9 million at December 31, 2014 and Corridor's revised 2015 capital budget of CAD 1.1 million, Corridor is forecasting a net positive working capital of approximately CAD 26.1 million at December 31, 2015, with no outstanding debt.

Corridor Resources Inc. Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2015

Corridor Resources Inc. reported unaudited earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of CAD 10,098,000 against CAD 11,713,000 a year ago. Net income was CAD 3,692,000 against CAD 4,009,000 a year ago. Net income per share - basic and diluted was CAD 0.042 against CAD 0.045 a year ago. Cash flow from operations was CAD 7,612,000 against CAD 8,073,000 a year ago. Capital expenditures were CAD 545,000 against CAD 805,000 a year ago. Natural gas sales for the first quarter of 2015 decreased to CAD 9,889,000 from CAD 11,438,000 for the first quarter of 2014 due to the decrease in the average daily natural gas production to 6.9 mmscfpd in the first quarter of 2015 from 7.6 mmscfpd in the first quarter of 2014 and the decrease in the average natural gas sales price to CAD 15.84/mscf in the first quarter of 2015 from CAD 16.80/mscf in the first quarter of 2014.

Corridor Resources Inc. Provides Production and Operating Cash Flow Guidance for 2015

Corridor Resources Inc. has decided to shut-in certain of its producing natural gas wells for the period from May 1, 2015 to October 31, 2015. The estimated average production from these wells is approximately 5 mmscf/d for such period. As a result of the shut-in, Corridor's forecasted average net daily gas production for 2015 will decrease from 6.7 mmscf/d to approximately 4.1 mmscf/d. The corporation does not anticipate any significant changes to its forecasted 2015 cash flow from operations of $8.7 million, as lower natural gas volumes are expected to be mostly offset by lower expenses and higher realized pricing. Accordingly, the corporation still expects to exit 2015 with approximately $27 million of working capital and no outstanding debt.

 

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