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Daylight Energy Down 1% Despite Reversing Yr-Ago Loss with $27.3 Million Profit

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Daylight Energy Ltd. (DAY.TO) fell to $8.93 by 1% despite announcing on Wednesday that it earned $27.3 million in second quarter, erasing year-ago loss of $26.8 million, after getting help from higher prices and from the substantial progress at its operations in Western Canadian Deep Basin.

The company's total production volumes for the quarter, however, decreased by 13% from the previous year to an average of 36,814 boe per day primarily as a result of the previously disclosed disruption at the third party operated K3 gas plant, non-core asset dispositions and a turnaround at the company's Brazeau light oil facility in June 2011.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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