DeeThree Exploration Ltd. Announces 2011 Third Quarter Results

- November 9th, 2011

DeeThree Exploration Ltd. (TSX:DTX) reported its financial and operational results for the three and nine months ended September 30, 2011.

DeeThree Exploration Ltd. (TSX:DTX) reported its financial and operational results for the three and nine months ended September 30, 2011.

As quoted in the press release:

Highlights for the period include:

  • Drilling 9 gross (7.6 net) wells for an 89% success rate.
  • Averaging 2,135 boe/d production (64% natural gas, 36% crude oil and NGLs) and exiting the quarter at 2,800 boe/d (58% natural gas, 42% crude oil and NGLs).
  • Generating funds from operations of $3.8 million or $0.06 per share.
  • Investing $25.0 million in capital expenditures.
  • Maintaining a strong financial position with net debt of $3.5 million at September 30, 2011 on a bank line of $20.0 million.

Click here to read the DeeThree Exploration Ltd. (TSX:DTX) press release.

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