Chelsea Oil and Gas Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
December 01, 2014 at 06:02 am EST
Chelsea Oil and Gas Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported royalty income of $156,841 compared to $10,798 a year ago. Net loss before tax was $87,744 compared to $198,617 a year ago. Net loss was $87,855 compared to $199,845 a year ago. Net exploration and evaluation expenditure was $61,477. Operating cash flow before working capital was $117,333 compared to operating cash outflow before working capital of $603 a year ago.
For the nine months, the company reported royalty income of $156,841 compared to $10,798 a year ago. Net loss before tax was $87,744 compared to $198,617 a year ago. Net loss was $179,226 compared to $414,747 a year ago. Net exploration and evaluation expenditure was $87,636. Operating cash flow before working capital was $224,244 compared to $3,254 a year ago.