Dundee Energy Limited reported unaudited consolidated earnings and production results for the second quarter ended June 30, 2017. Net sales were $5.9 million in the second quarter of 2017, an increase of $1.2 million when compared with net sales of $4.7 million earned in the same period of the prior year. Net loss attributable to owners of the parent for the three months ended June 30, 2017 was $0.5 million. This compares with a net loss attributable to owners of the parent of $7.3 million in the same period of the prior year. The net loss incurred during the second quarter of the prior year included an impairment of $5.0 million associated with certain of the Corporation's natural gas properties.

Production volumes during the first quarter of 2017 averaged 10,238 Mcf/d against 10,872 Mcf/d a year ago of natural gas and 436 bbls/d against 490 bbls/d a year ago of oil and liquids. Reductions in production volume reflect the expected natural depletion of the Corporation's resources. Production volumes during the second quarter of 2017 averaged 10,310 Mcf/d (three months ended June 30, 2016 - 10,799 Mcf/d) of natural gas and 482 bbls/d (three months ended June 30, 2016 - 493 bbls/d) of oil and liquids. Due primarily to financial constraints, the Corporation has limited its capital works and development initiatives, which has temporarily curtailed the potential for further exploitation of its producing properties. Field netbacks during the three months ended June 30, 2017, before realized amounts related to derivative financial instruments, were $1.68/Mcf (three months ended June 30, 2016 - $0.05/Mcf) from natural gas and $32.84/bbl (three months ended June 30, 2016 - $15.69/bbl) from oil and liquids.