Candax Reports Third Quarter 2011 Results

Candax Energy Inc. (TSX:CAX) announced the no profit for the third quarter of 2011 compared to $0.7 million for the third quarter of 2010.

As quoted in the press release:

Candax recorded a significantly reduced loss of $1.0 million ($0.001 per common share) for the three months ended September 30, 2011, compared to a loss of $12.6 million ($0.03 per common share) for the same period in 2010, as higher operating expenses related to the workover of the El Bibane-3 well and higher general and administrative expenses were recorded in the third quarter of 2010.

Click here to read the Candax Energy Inc. (TSX:CAX) press release.