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Last C$0.52 CAD
Change Today +0.01 / 1.96%
Volume 3.2K
TVL On Other Exchanges
Symbol
Exchange
OTC US
As of 4:02 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

traverse energy ltd (TVL) Snapshot

Open
C$0.52
Previous Close
C$0.51
Day High
C$0.52
Day Low
C$0.52
52 Week High
09/2/14 - C$1.25
52 Week Low
08/6/15 - C$0.38
Market Cap
36.8M
Average Volume 10 Days
26.1K
EPS TTM
C$-0.01
Shares Outstanding
70.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TRAVERSE ENERGY LTD (TVL)

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traverse energy ltd (TVL) Details

Traverse Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas in Canada. The company has interests in the areas of Coyote, Michichi, Hanna, Turin, and Brazeau in the province of Alberta. As of March 31, 2015, its undeveloped land holdings consisted of 188,100 net acres. The company was formerly known as Firstland Energy Limited and changed its name to Traverse Energy Ltd. in June 2009. Traverse Energy Ltd. was incorporated in 1995 and is headquartered in Calgary, Canada.

13 Employees
Last Reported Date: 04/15/15
Founded in 1995

traverse energy ltd (TVL) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: C$188.8K
Compensation as of Fiscal Year 2014.

traverse energy ltd (TVL) Key Developments

Traverse Energy Ltd. Announces Horizontal Drilling Results at Coyote Area

Traverse Energy Ltd. has placed on production another horizontal well in the Coyote area. This well was drilled in an Upper Mannville zone previously delineated by wells drilled in the deeper Coyote Ellerslie pool. The well was drilled to a total measured depth of 2,510 metres, including a 1,140 horizontal section and was fracture treated in 22 stages. The well was initially swabbed and flowed for cleanup and production testing. During the test a total of 1,150 barrels of oil and 3.9 mmcf of raw natural gas were produced over a 6 day period. The well was further production tested through the Company's existing facilities for a 9 day period. During this test the well-produced 2,050 barrels of oil and 11.5 mmcf of sales gas. Current production from the well is 200 barrels of oil and 1.2 mmcf of sales gas per day (400 BOE per day). These early test results, although preliminary, are encouraging based on analogous similar pools in East Central Alberta. These results are not necessarily indicative of long-term performance or of ultimate recovery. The Company's average production for the second quarter ended June 30, 2015 was 924 BOE per day, comprised of approximately 52% oil and natural gas liquids. At June 30, 2015 the Company had working capital of approximately $4.5 million and an approved credit facility of $10 million. Undeveloped land holdings in Alberta at June 30, 2015 were 192,300 gross (191,700 net) acres.

Traverse Energy Ltd. Reports Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015

Traverse Energy Ltd. reported earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported petroleum and natural gas revenue of $3.273 million against $4.338 million a year ago. Cash flow from operating activities was $2.189 million or $0.03 per basic and diluted share against $1.461 million or $0.02 per basic and diluted share a year ago. Funds from operations were $1.739 million or $0.02 per basic and diluted share against $2.409 million or $0.03 per basic and diluted share a year ago. Net income was $5.525 million or $0.08 per basic and diluted share against $0.407 million or $0.01 per basic and diluted share a year ago. Capital expenditures were $1.090 million against $5.475 million a year ago. For the six months, the company reported petroleum and natural gas revenue of $6.786 million against $8.873 million a year ago. Cash flow from operating activities was $4.189 million or $0.06 per basic and diluted share against $3.549 million or $0.06 per basic and diluted share a year ago. Funds from operations were $3.478 million or $0.05 per basic and diluted share against $5.005 million or $0.08 per basic and diluted share a year ago. Net income was $4.970 million or $0.07 per basic and diluted share against $1.153 million or $0.02 per basic and diluted share a year ago. Capital expenditures were $3.412 million against $12.439 million a year ago. For the quarter, the company reported natural gas production of 2,658 Mcf/day against 2,139 Mcf/day a year ago. Oil and NGL production was 481 bbls/day against 418 bbls/day a year ago. Total production was 924 BOE/day against 775 BOE/day a year ago. For the six months, the company reported natural gas production of 2,794 Mcf/day against 1,975 Mcf/day a year ago. Oil and NGL production was 554 bbls/day against 436 bbls/day a year ago. Total production was 1,020 BOE/day against 765 BOE/day a year ago.

Traverse Energy Ltd. Announces Earnings and Production Results for First Quarter Ended March 31, 2015; Provides Exploration and Development Expenditure Guidance for the Year of 2015

Traverse Energy Ltd. announced earnings and production results for first quarter ended March 31, 2015. For the quarter, the company reported loss of $0.56 million against profit of $0.75 million a year ago. Loss per share was $0.01 against profit per share of $0.01 a year ago. Cash flow was $1.74 million against $2.60 million a year ago. Cash flow per share was $0.03 against $0.04 a year ago. Revenue was $3.51 million against $4.54 million a year ago. Capital expenditures were $2.32 million against $6.96 million a year ago. For the quarter, the company reported oil and NGLs of 627 BBL per day compared to 455 BBL per day a year ago. Average production was 1,116 boe per day, which is 48% more than during the same timeframe last year as a result of drilling in the Coyote and Michichi areas. For 2015, the company reduced its 2015 exploration and development budget by 53% to $15 million, which will still accommodate expected drilling for the year that will continue to focus on light oil projects at Coyote and Michichi in southern Alberta as financed by cash flow and new equity issues or debt where appropriate.

 

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