Markets

Stream Oil & Gas Announces 2012 Annual Results

Stream Oil & Gas Ltd. (SKO.V) fourth quarter highlights: Average net production was 1,259 net boed compared to 800 net boed in the fourth quarter 2011; Realized average net crude price was $68.76 per barrel, a 2% increase; Increased revenue by 68% to US$7.8 million; Net income decreased to a loss of $8.7 million from a profit of $3.2 million in 2011; Completed work on the installation of an additional six jet pump units at the Cakran-Mollaj oilfield, targeting increasing individual well production to approximately 100 bbls/d; Continued the Gorisht-Kocul waterflood commercial pilot projects.

Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oilfields and a gas/condensate field in Albania.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos