Last C$0.0050 CAD
Change Today 0.00 / 0.00%
Volume 0.0
SOQ On Other Exchanges
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As of 5:00 PM 11/19/14 All times are local (Market data is delayed by at least 15 minutes).

sonde resources corp (SOQ) Snapshot

Open
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Previous Close
C$0.0050
Day High
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Day Low
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52 Week High
02/21/14 - C$0.65
52 Week Low
11/18/14 - C$0.0050
Market Cap
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Average Volume 10 Days
0.0
EPS TTM
C$-0.37
Shares Outstanding
56.1M
EX-Date
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P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for SONDE RESOURCES CORP (SOQ)

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sonde resources corp (SOQ) Details

Sonde Resources Corp. is engaged in the acquisition, exploration, development, and production of petroleum and natural gas properties in offshore North Africa and Western Canada. It holds a 100% working interest in the 768,000 acre joint oil block offshore Tunisia and Libya, as well as undeveloped land positions in Duvernay play covering 44,021 net acres and Wabamun play covering 53,489 net acres in West Central and Northern Alberta. The company was formerly known as Canadian Superior Energy Inc. and changed its name to Sonde Resources Corp. in June 2010. Sonde Resources Corp. was founded in 1983 and is headquartered in Calgary, Canada.

6 Employees
Last Reported Date: 03/27/14
Founded in 1983

sonde resources corp (SOQ) Top Compensated Officers

Chief Executive Officer, President, Non-Indep...
Total Annual Compensation: C$398.9K
Chief Financial Officer
Total Annual Compensation: C$266.5K
Senior Advisor
Total Annual Compensation: C$325.0K
Compensation as of Fiscal Year 2013.

sonde resources corp (SOQ) Key Developments

No Outcome From Strategic Review

A strategic review of Sonde Resources Corp. (TSXV:SOQ) has not resulted in a transaction. While discussions are ongoing, the strategic alternatives process has not resulted in a transaction that would satisfy significant financial commitments and there can be no assurance that the current strategic process will result in the sale of its interest or securing a partner, farm-out or other source of funding.

NYSE MKT To Suspend Trading Immediately In Sonde Resources Corp. And Commence Delisting Proceedings

NYSE MKT LLC announced that the staff of NYSE Regulation, Inc. has determined to commence proceedings to delist the common stock of Sonde Resources Corp. from NYSE MKT. Trading in the Company's Common Stock will be suspended immediately. NYSE Regulation previously initiated a trading halt in the Common Stock on November 17, 2014. The Exchange has now determined that the Company is no longer suitable for listing and will commence delisting proceedings pursuant to Section 1003(a)(iv) of the NYSE MKT Company Guide. Based on the disclosure in the Company's November 17, 2014 press release, NYSE MKT has determined that the Company's financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature. Furthermore, the Exchange makes reference to the low selling price rule in Section 1003(f)(v) of the Company Guide, as the closing sale price of the Company's Common Stock on November 14, 2014 was $0.05 per share, representing a total market capitalization of approximately $2.8 million. The Company has a right to a review of this determination by the NYSE MKT Listings Qualification Panel. Application to the SEC to delist the Common Stock is pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.

Sonde Resources Corp. Announces Unaudited Consolidated Financial and Operating Results for the Second Quarter and Financial Results for the Six Months Ended June 30, 2014; Reports Impairment Loss for the Second Quarter Ended June 30, 2014

Sonde Resources Corp. announced unaudited consolidated financial and operating results for the second quarter and financial results for the six months ended June 30, 2014. For the quarter, the company net loss from continuing operations of CAD 3,904,000 or CAD 0.07 per basic and diluted share against CAD 3,088,000 or CAD 0.06 per basic and diluted share a year ago. Net loss was CAD 4,391,000 or CAD 0.08 per basic and diluted share against CAD 4,857,000 or CAD 0.09 per basic and diluted share a year ago. Operating loss was CAD 3,924,000 compared to CAD 3,158,000 reported a year ago. Cash used in operating activities was CAD 3,129,000 compared to cash from operating activities of CAD 104,000 reported a year ago. Exploration and evaluation additions were CAD 1,798,000 compared to CAD 1,038,000 reported a year ago. Funds used in operations was CAD 1,877,000 or CAD 0.03 per diluted share against funds from operations of CAD 593,000 or CAD 0.01 per diluted a year ago. The increase in funds used for operations is attributed to the Marquee Transaction, which resulted in a 100% reduction in operating netback, partially offset by a 24% decrease in general and administrative expense. For the six months, the company net loss from continuing operations of CAD 9,314,000 or CAD 0.17 per basic and diluted share against CAD 8,010,000 or CAD 0.14 per basic and diluted share a year ago. Net loss was CAD 10,134,000 or CAD 0.18 per basic and diluted share against CAD 10,269,000 or CAD 0.18 per basic and diluted share a year ago. Operating loss was CAD 9,347,000 compared to CAD 8,108,000 reported a year ago. Cash used in operating activities was CAD 7,652,000 compared to CAD 367,000 reported a year ago. Exploration and evaluation additions were CAD 5,739,000 compared to CAD 2,043,000 reported a year ago. Property, plant and equipment additions were CAD 317,000 compared to CAD 1,072,000 reported a year ago. Funds used for operations were CAD 4,064,000 compared to funds from operations of CAD 121,000 reported a year ago. The increase in funds used for operations is attributed to the Marquee Transaction, which resulted in a 100% reduction in operating netback, partially offset by a 23% decrease in general and administrative expense. For the quarter, the company produced natural gas of 7,082 mcf/d and crude oil and natural gas liquids of 589 bbl/d compared to natural gas of 8,940 mcf/d and crude oil and natural gas liquids of 761 bbl/d produced a year ago. Total production was 1,769 boe/d compared to 2,251 boe/d produced a year ago. Given there were no substantial changes during the three and six months ended June 30, 2014 relating to the uncertainties described above nor in the company's operations, the company booked an impairment loss of CAD 1.8 million for the quarter ended June 30, 2014 compared to CAD 0.8 million reported a year ago.

 

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