Titan Oil & Gas, Inc Announces Earnings Results for Third Quarter and Nine Months Ended May 31, 2013
July 24, 2013 at 07:35 am EDT
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Titan Oil & Gas, Inc. announced earnings results for third quarter and nine months ended May 31, 2013. For the quarter company reported net loss of $10,177, or $0.00 loss per share, compared to a net loss of $17,701, or $0.00 loss per share, for the same quarter ended May 31, 2012. Oil and gas revenue for the quarter was $12,049, compared to $16,197 for the same quarter ended May 31, 2012.
For the nine months ended May 31, 2013, net loss was $66,730, or $0.00 loss per share, compared to a net loss of $82,263, or $0.00 loss per share, for the same period ended May 31, 2012. Oil and gas revenue was $44,264, compared to $56,768 for the same period ended May 31, 2012.
Titan Oil & Gas, Inc. is an exploration-stage company. The Company is engaged in the acquisition, exploration and the development of oil and gas properties. The Companyâs operations and projects include The Atlee Buffalo, The Bow Island, The Eyremore, The Retlaw, The Taber project and The CFB-Suffield. The Atlee Buffalo project is located approximately sixty miles north of Medicine Hat in Alberta. Main operators in the area include EOG Resources, Arc Resources and Nuvista Energy. The Bow Island project is located approximately twenty miles southwest of Medicine Hat and includes Husky Oil, Bellatrix Energy, Pengrowth, and Dove Energy operations. The Eyremore project is located approximately forty eight miles north of Lethbridge, Albert and includes Husky Oil, Eiger Energy, Canadian Natural Resources and Enermark operations. The Taber project is located approximately thirty miles east of Lethbridge and includes Penn West Petroleum, Cenovus Energy, and Sphere Energy Corp operations.