Canadian oil and gas firm Questerre
said in its Q3 earnings report:
* Q3 revenues $5.4 million vs year-ago $4.1 million
* Q3 net loss $2.6 million vs loss $1.0 million
* Q3 adjusted funds flow from operation $1.9 million vs $1.4 million
* Q3 output rose to 1,643 barrels of oil equivalents per day from year-ago 1,275 boe/d
* If company continues to drill more wells at Kakwa, it could see "another major increase in production" by next December
* Says draft regulations released this quarter are another milestone towards developing its Utica shale discovery in Quebec … company could return to the Utica field sometime in late 2018 or early 2019
* Says working to make the economics for its much larger project in Jordan equally compelling at current oil prices
* Says production in Kakwa and Antler underpins its project base: "We are continuing to build this base as a source of future value through additional drilling and acquisitions where prudent"
* We expect this will also provide us with near term cash flow and production growth
(Reporting by Terje Solsvik, editing by Stine Jacobsen)