Dundee Energy Limited Reports Audited Consolidated Earnings and Production Results for the Year Ended December 31, 2016
Revenues before royalty interests earned from oil and natural gas sales during the year ended December 31, 2016 were $23.9 million, compared with $29.6 million of revenues earned in the prior year, reflecting reduced production volumes and a decrease in the realized sales price for commodities on a comparative period-over-period basis. Net loss attributable to owners of the parent for the year ended December 31, 2016 was $19.1 million or $0.10 per share. This compares with a net loss attributable to owners of the parent of $8.3 million or $0.04 per share incurred in the prior year. Included in the net loss during the current year is an impairment of $11.9 million against certain natural oil and gas properties.