Striker Announces Fourth Quarter and Full Year 2015 Financial and Operating Results
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/26/16 -- Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE: SKX) is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2015. Our full audited Consolidated Financial Statements and Notes, as well as Management''s Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") for the year ended December 31, 2015 are available on Striker''s website () and will be filed on SEDAR.
FINANCIAL AND OPERATING HIGHLIGHTS
Q4 HIGHLIGHTS
2015 HIGHLIGHTS
During the year ended December 31, 2015, Striker achieved the following milestones:
2015 SUBSEQUENT EVENTS
As previously announced in the March 14, 2016 press release, the Company''s Board of Directors has determined that it is timely, prudent and in the best interests of shareholders to initiate a formal process to explore strategic alternatives with a view to enhancing shareholder value. Such strategic alternatives may include, but are not limited to, a corporate sale, merger or other business combination, the sale of all or a material portion of Striker''s assets, a reorganization, recapitalization or restructuring of Striker or any combination of the foregoing. FirstEnergy Capital Corp. has been retained by Striker to act as its exclusive financial advisor in connection with this comprehensive review and analysis of strategic alternatives.
ABOUT STRIKER
Striker is a growth-oriented, light oil focused company operating predominantly in Alberta. Striker''s full-cycle business plan provides an excellent opportunity to position itself as a high-growth junior E&P company. With an experienced management team and a strong committed Board, growth is expected to occur through timely strategic acquisitions and drilling. Striker currently trades on the TSX Venture Exchange under ticker "SKX".
READER ADVISORIES
NON-IFRS MEASURES: This press release contains the terms "funds flow from operations" and "net debt", which do not have a standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures by other companies. Management uses funds flow from operations to analyze operating performance and leverage. Management believes "net debt" is a useful supplemental measure of the total amount of current and long-term debt of the Company. Mark-to-market risk management contracts are excluded from the net debt calculation. Additional information relating to these non-IFRS measures, including the reconciliation between funds flow from operations and cash flow from operating activities, can be found in the Company''s most recent management''s discussion and analysis MD&A, which may be accessed through the SEDAR website ().
ADVISORY ON PRODUCTION INFORMATION: Unless otherwise indicated herein, all production information presented herein has presented on a gross basis, which is the Company''s working interest prior to deduction of royalties and without including any royalty interests.
BARRELS OF OIL EQUIVALENT: The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Striker Exploration Corp.
Doug Bailey
President and Chief Executive Officer
(403) 262-0242
Striker Exploration Corp.
Neil Burrows
Vice President, Finance and Chief Financial Officer
(403) 262-0242
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Datum: 26.04.2016 - 05:30 Uhr
Sprache: Deutsch
News-ID 1430424
Anzahl Zeichen: 3327
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CALGARY, ALBERTA
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Oil & Gas
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