Terrace Energy Announces Third Quarter Results
Terrace Energy Corp. (TZR.V) today announced its financial and operating results for the third quarter ended October 31, 2012.
Third Quarter Highlights
Total revenues from oil and gas sales for the quarter and for the nine months were approximately $332,000 and $1,090,000 respectively.
The net loss for the quarter was approximately $212,000, after the deduction of non-cash expenses in the aggregate amount of $245,000.
The net loss for the nine months was approximately $240,000, after the deduction of non-cash expenses of $390,000.
The Company's aggregate share of production from all three of its wells for the nine months ended October 31, 2012 was approximately 10,492 barrels of oil and liquids at an average price of US$96.59 per barrel and 9.7 million cubic feet of natural gas at an average price US$2.64 per million cubic feet.
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