Glori Energy Inc. reported consolidated operating and earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenues of $1,784,000 against $3,843,000 a year ago. Loss from operations was $27,552,000 against $17,709,000 a year ago. Net loss before taxes on income was $27,066,000 against $11,640,000 a year ago. Net loss was $27,052,000 or $0.85 per basic and diluted share against $11,656,000 or $0.37 per basic and diluted share a year ago. LBITDA was $24,455,000 compared to $9,233,000 a year ago. Adjusted LBITDA was $1,516,000 against $2,045,000 a year ago. Adjusted net loss was $4,424,000 or $0.15 per share against $4,653,000 or $0.14 a year ago.

For the year, the company reported total revenues of $9,002,000 against $15,859,000 a year ago. Loss from operations was $38,674,000 against $24,018,000 a year ago. Net loss was $36,255,000 or $1.14 per basic and diluted share against $18,756,000 or $0.65 per basic and diluted share a year ago. Net loss before taxes on income was $36,437,000 against $18,547,000 a year ago. Net cash used in operating activities was $9,711,000 against $8,186,000 a year ago. Purchase of proved oil and gas property was $5,220,000 against $41,353,000 a year ago. Purchase of other property and equipment was $588,000 against $1,009,000 a year ago. LBITDA was $28,761,000 compared to $10,900,000 a year ago. Adjusted LBITDA was $5,334,000 compared to $5,573,000 a year ago. Adjusted net loss was $13,995,000 or $0.44 per share against $13,846,000 or $0.48 a year ago. Capital expenditures for the full year 2015 totaled $5.8 million, of which $2.6 million was for the acquisition of the Bonnie View field, with the remainder consisting primarily of expenditures related to the implementation of AERO at the Coke field, including unitization, drilling an injector well, related surface facilities and other unproved property lease costs in East Texas.

Fourth quarter 2014 production was 525 net BOE/D with an average realized oil price of $67.04.  Including the effect of oil swap settlements, average realized price was $80.10 in the fourth quarter of 2014.

Capital expenditures for the 2016 fiscal year are expected to total approximately $1.0 million in connection with Phase II of AERO implementation on the Coke Field.