Tenth Avenue Petroleum Announces First Quarter 2024 Financial & Operating Results
Tenth Avenue Petroleum Announces First Quarter 2024 Financial & Operating Results
NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION IN THE UNITED STATES
不得在美國進行分銷或在美國傳播此信息。
CALGARY, AB / ACCESSWIRE / May 28, 2024 / Tenth Avenue Petroleum Corp. ("TPC" or the "Company") (TSXV:TPC) is pleased to announce its financial and operating results for the three months ended March 31, 2024. The associated management's discussion and analysis ("MD&A") and unaudited interim financial statements for the three months ended March 31, 2024, can be found at and
2024年5月28日，亞克衰油氣公司（"TPC"或"公司"）（TSXV:TPC）高興地宣佈截至2024年3月31日的三個月的財務和營運結果。相應的管理討論和分析報告（"MD&A"）和截至2024年3月31日的未經審計的中期財務報表可以在此處找到
The Company's key achievements in the first quarter of 2024 included the following:
2024年第一季度公司的主要成就包括以下內容：
- Achieved production average of 122 boe/d (89% oil & NGLs) in Q1/24, consistent with 119 boe/d (89% oil & NGLs) in Q4/23.
- Revenues, before realized derivatives, was $775,247 or $70.00/boe in Q1/24, a 4% decrease from $804,601 or $74.30/boe in Q4/23. The 4% decrease was due to an 11% decrease in realized WTI prices, a 52% decrease in NGL prices, offset by an 11% increase in realized natural gas pricing prices and a 3% increase in production when comparing Q1/24 to Q4/23.
- Revenues, after realized derivatives, of $832,913, or $75.21/boe in Q1/24, a 2% decrease from $849,539, or $77.60/boe in Q4/23.
- The Company realized a gain of $57,666 or $5.21/boe in Q1/24 from a physical crude oil agreement to hedge 50 bbls/d at a price of CAD$116.50 per barrel.
- Net production expense decreased 12% to $565,051 or $51.02/boe in Q1/24 from $58.06/boe in Q4/23.
- Operating netbacks before derivatives increased by 175% in Q1/24 to $12.59/boe from $4.59/boe in Q4/23, while operating netbacks, after derivatives increased by 54% to $17.81/boe in Q1/24 from $8.70/boe in Q4/23. This netback increase was also affected by a decrease in production expenses and royalties on a per boe basis.
- Adjusted funds flow (see "Non-IFRS Financial Measures") was $46,039 in Q1/24.
- Total capital expenditures decreased by 24% in Q1/24 to $11,803 from $15,627 in Q4/23. The Company exited Q1/24 with a working capital surplus of $33,212 (see "Capital Management Measures").
- Q1/24的平均生產量爲122個標化油桶當量/日（89%爲油和NGL），與Q4/23的119個標化油桶當量/日相一致。
- Q1/24的營業收入，在實現衍生品之前，爲$775,247或每個標化油桶當量70.00美元，較Q4/23的每個標化油桶當量74.30美元下降了4%。這4%的下降是由實現WTI價格下降11％，NGL價格下降52％，抵銷實現天然氣定價價格上漲11％和產量上漲3％在Q1 /24和Q4/23的比較中導致的。
- Q1/24實現了$832,913的營業收入，每個標化油桶當量爲$75.21，較Q4/23的$849,539或每個標化油桶當量77.60美元下降了2%。
- 公司在Q1/24通過物理原油協議獲得了$57,666或每個標化油桶當量$5.21的收益，對沖了50桶/天的原油，價格爲CAD $116.50 /桶。
- Q1/24的淨生產費用從Q4/23的每個標化油桶58.06美元下降了12％至$ 565,051或每個標化油桶51.02美元。
- 衍生品之前的營運淨現金流（在"非IFRS財務指標"中看到）在Q1/24中增加了175％，從Q4/23的每個標化油桶$4.59增加到每個標化油桶$12.59。在衍生品之後的營運淨現金流在Q1/24中增加了54％，從Q4/23的每個標化油桶$8.70增加到每個標化油桶$17.81。這種淨退改增加也受到了單位生產費用和每個波的版稅的減少的影響。
- 經調整後的資金流量（請參見“非IFRS財務指標”）爲Q1/24中的$46,039。
- Q1/24的總資本支出從Q4/23的$15,627下降了24％至$11,803。公司以$33,212的運營資本盈餘結束了Q1/24（請參見“資本管理措施”）。
During the quarter, the Company continued to further its waterflood program that was the driver behind a 36% increase in proved plus probable reserves as at December 31, 2023 compared to the same date in 2022 (see press release dated April 23, 2024 for more details). The Company received Alberta Energy Regulator approval to initiate the conversion of its currently shut-in 05-36 horizontal well into a new injection well that is situated closer in proximity to the higher productivity wells than existing injectors. The Company expects to inject higher water volumes into the 05-36 injection well which has the potential to increase reservoir pressures over time leading to higher recovery rates. The Mannville "A" Pool has approximately 8.9 million barrels (Mbbls) of original oil in place with approximately 8% of that oil recovered to date. In addition, the Company estimates that approximately 15 bbls/d of shut in oil production, curtailed since Q3/23, should be back online by early June 2024 as work to rectify pipeline rupture is near completion.
在本季度中，公司繼續推進其注水項目，該項目是導致2023年12月31日後證明加概率儲量增加36％的驅動因素與2022年同期比較（有關詳細信息，請參見2024年4月23日發佈的新聞稿）。該公司獲得了艾伯塔能源監管局批准，以將目前閒置的05-36水平井轉換爲新注入井，該井比現有的注入井更接近產能更高的井。公司預計向05-36注入井注入更高的水量，這有可能隨着時間的推移導致儲層壓力增加，從而提高回收率。曼維爾"A"組石油原始地點約爲890萬桶（Mbbls），至今回收的油約爲8％。此外，公司估計自自2023年第三季度以來被停產的約15 bbls / d的油產量應在2024年6月初恢復，因爲排氣管破裂的工作接近完成。
Selected Quarterly Information
所選季度信息
|
Three months ended
March 31
|
||||||||||||
($) |
2024 | 2023 | % change | |||||||||
Total oil, natural gas and processing revenue |
796,139 | 1,041,986 | (24) | |||||||||
Cash flow from operating activities |
(126,561) | (25,906) | (389) | |||||||||
Per share - basic |
(0.00) | (0.00) | - | |||||||||
Per share - diluted |
(0.00) | (0.00) | - | |||||||||
Adjusted funds flow (1)
|
46,039 | 50,773 | (9) | |||||||||
Per share - basic (2)
|
0.00 | 0.00 | (100) | |||||||||
Per share - diluted (2)
|
0.00 | 0.00 | (100) | |||||||||
Net income (loss) |
(220,322) | (268,364) | 18 | |||||||||
Per share - basic |
(0.01) | (0.01) | - | |||||||||
Per share - diluted |
(0.00) | (0.00) | - | |||||||||
Working capital surplus (1)
|
64,846 | 445,589 | 85 | |||||||||
Capital expenditures |
11,803 | 138,853 | (91) | |||||||||
Weighted average shares outstanding |
||||||||||||
Basic |
39,844,100 | 39,890,767 | - | |||||||||
Diluted |
39,844,100 | 39,994,100 | - | |||||||||
Share Trading |
||||||||||||
High |
$ | 0.16 | $ | 0.27 | (41) | |||||||
Low |
$ | 0.10 | $ | 0.17 | (41) | |||||||
Trading volume |
598,581 | 2,567,826 | (77) | |||||||||
Average daily production |
||||||||||||
Oil (bbls/d) |
104 | 128 | (19) | |||||||||
NGL (bbls/d) |
3 | 1 | 200 | |||||||||
Natural Gas (mcf/d) |
83 | 263 | (68) | |||||||||
Total (boe/d) |
122 | 173 | (29) | |||||||||
Average realized sale prices, before financial instruments |
||||||||||||
Oil ($/bbls) |
77.45 | 78.89 | (2) | |||||||||
Natural gas liquids ($/bbls) |
13.70 | 95.16 | (86) | |||||||||
Natural Gas ($/mcf) |
4.59 | 4.13 | 11 | |||||||||
Operating netback, after derivatives ($/boe) |
17.81 | 11.56 | 54 | |||||||||
Adjusted funds flow ($/boe) |
4.16 | 3.26 | 28 | |||||||||
|
三個月的截至日期爲
三月三十一日
|
||||||||||||
($) |
2024 | 2023 | ％變化 | |||||||||
原油、天然氣和加工收入總額 |
796,139 | 1,041,986 | （24） | |||||||||
經營活動現金流量 |
(126,561) | (25,906) | (389) | |||||||||
每股 - 基本 |
（0.00） | （0.00） | - | |||||||||
每股 - 攤薄 |
（0.00） | （0.00） | - | |||||||||
調整後的所有基金類型流量(1)
|
46,039 | 50,773 | -9 | |||||||||
每股 - 基本(2)
|
0.00 | 0.00 | (100) | |||||||||
每股 - 攤薄(2)
|
0.00 | 0.00 | (100) | |||||||||
淨利潤（損失） |
(220,322) | (268,364) | 18 | |||||||||
每股 - 基本 |
（0.01） | （0.01） | - | |||||||||
每股 - 攤薄 |
（0.00） | （0.00） | - | |||||||||
運營資本盈餘(1)
|
64,846 | 445,589 | 85 | |||||||||
資本支出 |
11,803 | 138,853 | (91) | |||||||||
加權平均股數 |
||||||||||||
基本 |
39,844,100 | 39,890,767 | - | |||||||||
攤薄 |
39,844,100 | 39,994,100 | - | |||||||||
股份交易 |
||||||||||||
高 |
$ | 0.16 | $ | 0.27 | (41) | |||||||
收盤最低價 |
$ | 0.10 | $ | 0.17 | (41) | |||||||
成交量 |
598,581 | 2,567,826 | (77) | |||||||||
平均每天產量 |
||||||||||||
原油（桶/天） |
104 | 128 | (19) | |||||||||
天然氣液（桶/天） |
3 | 1 | 200 | |||||||||
天然氣（立方英尺/天） |
83 | 263 | (68) | |||||||||
總計（boe/日） |
122 | 173 | (29) | |||||||||
金融工具前平均實現的銷售價格 |
||||||||||||
原油（美元/桶） |
77.45 | 78.89 | (2) | |||||||||
天然氣液（美元/桶） |
13.70 | 95.16 | (86) | |||||||||
天然氣（美元/立方英尺） |
4.59 | 4.13 | 11 | |||||||||
金融衍生工具後的營運淨收益（美元/桶當量） |
17.81 | 11.56 | 54 | |||||||||
調整後的所有基金類型（美元/桶當量） |
4.16 | 3.26 | 28 | |||||||||
- Capital Management Measure; See "Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures" Section of this MD&A.
- Non-IFRS Financial Ratio; See "Non-IFRS Financial Measures, Non-IFRS Financial Ratios and Capital Management Measures" Section of this MD&A.
- 資本管理措施；請參閱此 MD&A 的“非IFRS財務衡量標準、非IFRS財務比率和資本管理措施”部分。
- 非IFRS財務比率；請參閱本MD＆A的“非IFRS財務措施、非IFRS財務比率和資本管理措施”部分。
The Company will continue to assess uses of the free cash flow profile given the increase in asset performance paired with commodity levels, while balancing future land acquisitions and production acquisition opportunities.
隨着資產表現和商品水平的提高，公司將繼續評估自由現金流預測的用途，同時平衡未來土地收購和生產收購機會。
An updated corporate presentation can be found at
公司的最新企業介紹書可以在以下網址找到：
For further information please contact:
要了解更多信息，請聯繫：
Tenth Avenue Petroleum Corp.
Cameron MacDonald, President & CEO
Phone: (403) 585-9875
Email: cmacdonald@tenthavenuepetroleum.com
第十大街石油股份有限公司。
卡梅倫·麥克唐納，總裁兼首席執行官。
電話：(403) 585-9875
電郵：cmacdonald@tenthavenuepetroleum.com
About Tenth Avenue Petroleum Corp.
關於第十大街石油股份有限公司。
Tenth Avenue Petroleum Corp. is a junior oil and gas exploration and production company with operations in Alberta.
第十大街石油股份有限公司是一家在阿爾伯塔省開展業務的Junior油氣勘探和生產公司。
Forward-looking Information and Statements
前瞻性信息和聲明
The information in this news release contains certain forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control, including: the inability of the Company to meet its commitments on its lands or on the lands it may acquire, the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves, changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; geological, technical, drilling, completion and processing problems and other difficulties in producing petroleum reserves; and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits the Company will derive from them. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements. Investors are encouraged to review and consider the additional risk factors set forth in the Company's continuous disclosure documents which are available on SEDAR+ at .
本新聞稿中的信息包含某些前瞻性聲明。這些聲明涉及未來事件或我們未來的業績。與歷史事實不同，所有非歷史事實語句都可能成爲前瞻性陳述。前瞻性陳述通常使用“尋求”、“預計”、“計劃”、“繼續”、“估計”、“近似”、“期望”、“可能”、“將”、“項目”、“預測”、“潛力”、“瞄準”、“意圖”、“可能”、“應該”、“相信”、“願”等詞語。這些聲明涉及巨大的已知和未知的風險和不確定性，其中一些風險和不確定性超出了公司的掌控範圍，包括：公司無法滿足其對其土地或可能收購的土地的承諾，總體經濟條件的影響；行業狀況；法律法規的變化，包括新環境法規的採納和如何解釋和執法它們的變化；商品價格、匯率和利率的波動；股市波動和市場估值；石油和天然氣市場價格的波動；石油和天然氣業務的固有責任；估算石油和天然氣儲量的不確定性，所得到的收入稅法律的變化或涉及石油和天然氣行業的稅法律和激勵計劃的變化；石油儲量生產中存在的地質、技術、鑽井、完井和加工問題以及其他生產石油儲量的困難；獲得監管機構所要求的批准。公司的實際結果、表現或成果可能與這些前瞻性陳述所預測的結果、表現或成果明顯不同，因此無法保證前瞻性陳述預計的任何事件將發生或發生，或者如果它們中的任何一項發生，公司將從中獲得的任何效益。這些聲明受到特定風險和不確定性的影響，並且可能基於可能導致實際結果與預期的結果存在重大差異的假設。本新聞稿中的前瞻性陳述受到本警示聲明的明確限制。除法律規定外，本公司不承擔更新或修訂前瞻性陳述的公開責任。投資者被鼓勵查看和考慮本公司在SEDAR+上連續披露文件中闡述的額外風險因素。
Oil and Gas Advisories
油氣諮詢
Meaning of Boe
Boe的含義
The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
“Boe”或油當量桶可能會誤導，特別是如果孤立使用。一個以6立方英尺的天然氣轉化成一個油當量桶（6 Mcf：1 bbl）的油當量桶轉化比率是基於一個主要應用於燃燒器端的能量等價轉化方法，而不代表井口的價值等價。此外，鑑於基於當前原油價格與天然氣的價值比率與6：1的能量等價顯着不同；因此，使用6：1的轉化比率可能會誤導其價值。
Reserves Estimates
儲量估計
The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.
單個資產的儲備和未來淨收入估計可能不反映與所有資產儲備和未來淨收入估計相同的置信水平，這是由於聚合效應所造成的影響。
Non-GAAP Measurements
非GAAP衡量標準
The Company utilizes certain measurements that do not have a standardized meaning or definition as prescribed by International Financial Reporting Standards ("IFRS") and therefore may not be comparable with the calculation of similar measures by other entities, including but not limited to operating netback, cash flow and working capital. Readers are referred to advisories and further discussion on non-GAAP measurements contained in the Company's continuous disclosure documents. Operating netback is a non‐GAAP measure calculated as the average per boe of the Company's oil and gas sales, less royalties and operating costs.
本公司利用某些沒有國際財務報告準則（“IFRS”）規定的標準或定義的衡量標準，因此可能無法與其他實體（包括但不限於運營淨價、現金流和工作資本）進行類似計算的衡量標準進行比較。閱讀者請參閱本公司連續披露文件中涉及非GAAP衡量標準的風險警告和進一步討論。運營淨價是一種非GAAP經驗，其計算方法爲公司石油和天然氣銷售的每個油當量的平均值，減去特許權使用費和運營成本。
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TSX Venture Exchange及其監管服務提供商（如TSX Venture Exchange政策中所定義的那樣）不對本發佈的充分性或準確性負責。
SOURCE: Tenth Avenue Petroleum Corp.
SOURCE: 第十大街石油股份有限公司。