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Last C$4.77 CAD
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As of 3:58 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

storm resources ltd (SRX) Snapshot

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10/1/14 - C$6.17
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storm resources ltd (SRX) Details

Storm Resources Ltd. acquires, explores for, develops, and produces oil, natural gas, and natural gas liquids in the provinces of Alberta and British Columbia, Canada. It primarily owns interests in lands covering approximately an area of 100,000 net acres located in Umbach; undeveloped lands covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia; and properties covering an area of 32,000 net acres located in Grande Prairie Area, Northwest Alberta and Northeast British Columbia. The company has total proved plus probable reserves of 88,024 thousands of barrels of oil equivalent. Storm Resources Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.

Founded in 2010

storm resources ltd (SRX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$208.6K
Chief Financial Officer
Total Annual Compensation: C$142.0K
Chief Operating Officer
Total Annual Compensation: C$202.8K
Vice President of Finance
Total Annual Compensation: C$202.8K
Compensation as of Fiscal Year 2014.

storm resources ltd (SRX) Key Developments

Storm Resources Ltd. Presents at EPAC Oil & Gas Investor Showcase, Jun-10-2015 09:55 AM

Storm Resources Ltd. Presents at EPAC Oil & Gas Investor Showcase, Jun-10-2015 09:55 AM. Venue: Metropolitan Conference Centre, 333 4th Avenue SW, Calgary, Alberta, Canada.

Storm Resources Ltd. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Reports Production Results for April 2015; Provides Production and Capital Investment Guidance for the Second Quarter of 2015; Revises Production Guidance for the Fourth Quarter and Full Year 2015

Storm Resources Ltd. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue from product sales of CAD 18,512,000 against CAD 20,807,000 for the same period in the last year. Funds from operations were CAD 13,712,000 or CAD 0.12 per diluted share against CAD 8,660,000 or CAD 0.08 per diluted share for the same period in the last year. Net loss was CAD 3,565,000 against net profit of CAD 206,000 for the same period in the last year. Diluted LPS was CAD 0.03 against CAD 0.00 a year ago. Operations capital expenditures were CAD 35,680,000 against CAD 22,343,000 a year ago. Production for the first quarter of 2015, averaged 9,776 Boe per day (19% oil plus NGL), an increase of 91% on a per-share basis from the previous year. The increase was the result of growth at Umbach where first quarter production was 8,579 Boe per day, a year-over-year increase of 141%. NGL production was 1,493 barrels per day, an increase of 106% from the previous year which was the result of production growth from the liquids-rich Montney formation at Umbach where NGL recovery was 33 barrels per Mmcf sales in the quarter. With approximately 60% of the NGL mix being condensate plus pentanes, the NGL price of CAD 37.10 per barrel was 71% of the average Edmonton light oil price. Production in April 2015 averaged 11,900 Boe per day based on field estimates. For the 2015 second quarter production is forecast to be 10,000 to 10,500 Boe per day. Capital investment in the second quarter is expected to total CAD 9.0 to CAD 11.5 million which includes completing one horizontal well (1.0 net) and CAD 6.4 million to add equipment at the second field compression facility at Umbach. The company expects average annual production of 11,000 to 12,000 Boe/d against previous expectations of 11,500 to 12,700 Boe/d. For the remainder of 2015, storm has hedged approximately 40% of forecast natural gas production at an AECO price of CAD 4.17 per Mcf. The company expects capital investment of CAD 47.8 million at Umbach for drilling and completions and CAD 23.4 million to expand infrastructure at Umbach, including expansion of the second field compression facility from 27 Mmcf per day to 54 Mmcf per day in the first quarter, plus CAD 4.0 million to order major equipment for a third field compression facility. For the fourth quarter of 2015, the company expects average annual production of 14,000 - 14,500 Boe/d against previous expectations of 14,000 - 14,500 Boe/d.

Storm Resources Ltd., Annual General Meeting, May 14, 2015

Storm Resources Ltd., Annual General Meeting, May 14, 2015., at 15:30 Mountain Daylight. Location: Calgary Telus Convention Centre, Rooms 108/109 North Building. Agenda: To receive the financial statements of the corporation for the year ended December 31, 2014, and the report of the auditor thereon; to fix the number of directors for the ensuing year at eight; to elect directors of the corporation for the ensuing year; to appoint the auditor of the corporation for the ensuing year and to authorize the directors of the corporation to fix their remuneration; to approve the corporation's stock option plan, as described in the management information circular dated March 31, 2015; and to transact such other business as may properly come before the meeting.


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