Tuscany Energy Ltd. reported audited earnings and production results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net loss of CAD 2.3 million or CAD 0.058 per basic and diluted share on oil & gas revenue of CAD 1.750 million compared to net loss of CAD 5.874 million or CAD 0.12 per basic and diluted share on oil & gas revenue of CAD 4.689 million reported in the same period last year. Cash outflow from operations was CAD 0.679 million or CAD 0.01 per basic and diluted share against cash inflow from operations of CAD 1.925 million or CAD 0.04 per basic and diluted share reported last year. Capital expenditures, net of dispositions was CAD 0.905 million against CAD 3.584 million reported last year.

For the year, the company reported net loss of CAD 6.574 million or CAD 0.13 per basic and diluted share on oil & gas revenue of CAD 10.113 million compared to net loss of CAD 5.087 million or CAD 0.12 per basic and diluted share on oil & gas revenue of CAD 17.609 million reported in the same period last year. Cash flow from operations was CAD 1.197 million or CAD 0.02 per basic and diluted share against CAD 8.077 million or CAD 0.15 per basic and diluted share reported last year. Capital expenditures, net of dispositions was CAD 2.646 million against CAD 11.525 million reported last year. Net debt was CAD 9.128 million as on December 31, 2015 against CAD 6.763 million as on December 31, 2014.

For the quarter, the company reported production of oil and NGLs of 519 Bopd compared to 777 Bopd reported last year. Production of gas was 1,138 Mcfd against 834 Mcfd reported last year. The company reported average production of 709 BOEd against 916 BOEd a year ago.

For the year, the company reported production of oil and NGLs of 632 Bopd compared to 609 Bopd reported last year. Production of gas was 943 Mcfd against 852 Mcfd reported last year. The company reported average production of 789 BOEd against 751 BOEd a year ago.