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Last $0.05 USD
Change Today -0.003 / -6.25%
Volume 157.0K
DBRM On Other Exchanges
Symbol
Exchange
OTC US
Berlin
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

daybreak oil & gas inc (DBRM) Snapshot

Open
$0.04
Previous Close
$0.05
Day High
$0.05
Day Low
$0.04
52 Week High
08/1/14 - $0.24
52 Week Low
07/22/15 - $0.04
Market Cap
2.3M
Average Volume 10 Days
58.5K
EPS TTM
$-0.02
Shares Outstanding
51.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for DAYBREAK OIL & GAS INC (DBRM)

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daybreak oil & gas inc (DBRM) Details

Daybreak Oil and Gas, Inc. operates as an independent oil and natural gas exploration, development, and production company in the United States. The company primarily holds interests in the East Slopes project located in the southeastern part of the San Joaquin Basin near Bakersfield, California; and the Twin Bottoms Field comprising approximately 7,300 acres located in the Appalachian Basin of eastern Kentucky. As of February 28, 2015, it had estimated proved reserves of 888,136 barrels of oil equivalent. The company was formerly known as Daybreak Mines, Inc. and changed its name to Daybreak Oil and Gas, Inc. in October 2005. Daybreak Oil and Gas, Inc. was founded in 1955 and is based in Spokane, Washington.

6 Employees
Last Reported Date: 07/10/15
Founded in 1955

daybreak oil & gas inc (DBRM) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $150.0K
Chief Operating Officer
Total Annual Compensation: $89.4K
Compensation as of Fiscal Year 2015.

daybreak oil & gas inc (DBRM) Key Developments

Daybreak Oil and Gas, Inc. Auditor Raises 'Going Concern' Doubt

Daybreak Oil and Gas, Inc. filed its 10-K on May 22, 2015 for the period ending Feb 28, 2015. In this report its auditor, Malone & Bailey, PLLC, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Daybreak Oil and Gas, Inc. Reports Production and Earnings Results for the Second Quarter Ended August 31, 2014; Plans to Drill Additional Development Wells

Daybreak Oil and Gas, Inc. reported production and earnings results for the second quarter ended August 31, 2014. For the second quarter ended August 31, 2014, the company reported net income of $81,052. Revenue was $1,044,296 compared to $810,429 for the quarter ended May 31, 2014. The Jackson H-20 ("H-20") oil well was recently drilled to a measured depth of 3,978 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 2,585 feet of oil-bearing sandstone. The Dwight Dillon H-22 ("H-22") oil well has also recently been drilled to a measured depth of 4,646 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,054 feet of oil-bearing sandstone. The Raymond Lyons H-23 ("H-23") and Raymond Lyons H-24 ("H-24") oil wells which were previously reported on, have now been successfully hydraulically fractured. A completion rig is now at that location completing these wells, and they are expected to be put on production by the end of October 2014. Construction of the central production facility which will service the H-20, H-22, H-23, and H-24 oil wells, as well as future wells in the area has started. The Dwight Dillon H-22 and the Jackson H-20 wells are expected to be put on production by the middle of November 2014. In Kentucky, the company had net production for the quarter ended August 31, 2014 of 7,202 barrels of oil equivalent ("BOE"), compared to 4,179 BOE for the quarter ended May 31, 2014. There are currently nine wells on production and four wells awaiting completion and production facilities. In California, the company had net production for the quarter ended August 31, 2014 of 4,066 BOE from the company's existing 20 oil wells compared to 4,463 BOE for the quarter ended May 31, 2014. Total production was 11,268 barrels of oil equivalent, compared to 8,642 barrels of oil equivalent for the quarter ended May 31, 2014. The drilling rig has been released; however, two more wells are planned to be drilled before the end of the calendar year. The H-22 and the H-20 oil wells are scheduled to be hydraulically fractured on or around October 14th and 21st, respectively. The company is planning to drill additional development wells in at least four of its producing pools on the Black, Bear, Dyer Creek and Ball properties and two wells to explore for new reserves in the southern portion of acreage position.

Daybreak Oil and Gas, Inc. Announces Drilling Update at Twin Bottoms Field in Lawrence County, Kentucky

Daybreak Oil and Gas, Inc. announced the successful drilling of its tenth and eleventh horizontal oil wells at the Twin Bottoms Field in Lawrence County, Kentucky. The Raymond Lyons H-23 oil well was drilled to a measured depth of 4,676 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,338 feet of oil-bearing sandstone. The Raymond Lyons H-24 oil well was drilled to a measured depth of 4,933 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,547 feet of oil-bearing sandstone. The H-23 and the H -24 oil wells are scheduled to be hydraulically fractured on or about September 22 and 29, 2014 respectively. A central production facility will be built on the joint H-23 and H-24 location to service these and future wells. Due to the rough terrain, the facility construction cannot begin until these two wells are hydraulically fractured and completed. Initial production from the H-23 and H-24 oil wells is expected to occur near the end of October 2014. Once production is established, the Company will provide an update, however; stabilized production rates will not be provided until, at least, 45 days after first production. The drilling rig will now be moved to the Hershel Cordell H-20 location.

 

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