Quarterly Highlights
Record quarterly revenue of
Record quarterly funds flow from operations1 of
Record quarterly adjusted EBITDA1 of
Ended the quarter with a cash balance of
1. This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading 'Non-GAAP and Other Financial Measures' within press release.
The three months ended
Environmental and Social Responsibility
The Corporation also provided in its management's discussion and analysis, its Environmental, Social and Governance (ESG) performance including information relating to operations in
Environmental
The operation of Blocks 16 and 67 (Tivacuno) takes place in an area of great environmental sensitivity, which partially coincides with the
NSE continues making improvements in the design and efficiency of the operational processes in
Social
Blocks 16 and 67 (Tivacuno) are in the Waorani and Kichwa indigenous communities. To balance the opportunities that the communities have for a better quality of life, prior operators signed a collaboration agreement with N.A.W.E (Nacionalidad Waorani del
Contact:
Chairman & Chief Executive Officer
E: jfarata@newstratus.energy
President & Director
E: wfelesky@newstratus.energy
Chief Financial Officer
E: mmiranda@newstratus.energy
T: (416) 363-4900
Forward-Looking Information
Certain information set forth in this news release constitutes 'forward-looking statements', and 'forward-looking information' under applicable securities legislation (collectively, 'forward-looking statements'). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements may be identified by the use of conditional or future tenses or by the use of words such as 'will', 'expects', 'intends', 'may', 'should', 'estimates', 'anticipates', 'believes', 'projects', 'plans', and similar expressions, including variations thereof and negative forms. Forward-looking statements in this press release are based on the Corporation's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them.
In respect of the forward-looking statements contained herein, the Corporation has provided them in reliance on certain assumptions that it believes are reasonable at this time, some or all of which may prove to be incorrect. Accordingly, readers should not place undue reliance on the forward-looking statements contained herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. New Stratus undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits may be derived therefrom.
Non-GAAP and Other Financial Measures
This news release contains the financial terms 'Adjusted EBITDA', 'Funds flow from operations' and 'Operating Netback' that do not have a standardized definition under International Financial Reporting Standards ('IFRS'). These financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Corporation. The Corporation's determination of these non-IFRS measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS.
For a reconciliation and details on Non-GAAP measures, see the Company's management's discussion and analysis for the three months ended
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