Glori Energy Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $1,002,000 against $2,567,000 for the same period a year ago. Loss from operations was $2,796,000 against $3,606,000 for the same period a year ago.

Net loss before taxes on income was $684,000 against $2,967,000 for the same period a year ago. Net loss was $684,000 or $0.60 per basic and diluted share against $2,984,000 or $0.09 per basic and diluted share for the same period a year ago. Reported net loss for the first quarter of 2015 included a gain on commodity derivatives of approximately $1.4 million, of which $1.1 million was received as a cash settlement.

Net cash used in operating activities was $2,780,000 against $3,928,000 for the same period a year ago. Purchase of proved oil and gas property was $38,988,000 against $204,000 for the same period a year ago. Purchase of other property and equipment was $82,000 against $220,000 for the same period a year ago.

Adjusted net loss was $3,138,000 or $2.76 per share against $3,207,000 or $0.10 per share for the same period a year ago. EBITDA was $111,000 against LBITDA of $1,184,000 for the same period a year ago. Adjusted LBITDA was $2,266,000 against $975,000 for the same period a year ago.