CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Fuel Ltd. (“Zargon” or the “Firm”).
FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED June 30, 2019)
- Funds stream from working actions of $2.17 million in comparison with $1.23 million recorded within the prior quarter, and $0.58 million reported within the second quarter of 2018. The rise from the prior quarter was primarily on account of larger commodity costs, decreased working bills and decrease curiosity bills as a result of settlement of the convertible debentures.
- Second quarter 2019 manufacturing averaged 1,790 barrels of oil equal per day, a one % lower from the previous quarter manufacturing price of 1,808 barrels of oil equal per day and a 15 % lower from the second quarter 2018 manufacturing price of two,118 barrels of oil equal per day. The discount in manufacturing volumes from the prior quarter was primarily on account of electrical outages, spring blizzards and spring break up. Second quarter oil manufacturing averaged 1,539 barrels per day, a two % lower…