UPDATE: Valeura Energy Nearly Touches Yr-Low As Reports Q2 Net Loss, Negative FFO
Valeura Energy Inc. (VLE.V) went down by about 7% to 20 cents, just 2 cents above year lows, after saying that it ended the second quarter of 2011 with a net loss of $4.4 million, up from $3.2 million in the comparable period in 2010. Funds flow from operations during the quarter was negative $1.6 million compared to negative $885,673 in the previous year, which reflects higher G&A expenses related to the growth in business activities, partially offset by higher petroleum and natural gas sales related to the Edirne and TBNG-PTI asset acquisitions.
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