Exall Energy Corporation reported earnings and production results for the first quarter ended March 31, 2014. For the quarter, the company reported gross revenue of CAD 8,116,000 compared with CAD 9,753,000 for the same period last year. Funds from operations were CAD 1,959,000 or CAD 0.03 diluted per share compared with CAD 5,024,000 or CAD 0.04 diluted per share for the same period last year. Net loss was CAD 1,167,000 or CAD 0.02 diluted per share compared with net profit of CAD 896,000 or CAD 0.01 diluted per share for the same period last year. Capital expenditures, net were CAD 268,000 compared with CAD 6,879,000 for the same period last year.

For the quarter, the company reported daily production of crude oil of 886 bbl against 1,218 bbl a year ago. Natural gas liquids daily production was 23 bbl against 19 bbl a year ago. Natural gas daily production was 318 mmcf against 394 mmcf a year ago. This production was down as a result of first quarter 2014 well optimization operations which resulted in fairly significant downtimes on certain higher rate oil wells.

The company would generate a cash flow from operations of approximately CAD 12.5 million for 2014.