Hyperion Exploration Provides First Quarter Results, Exploration Update

Hyperion Exploration Corp. (TSXV:HYX) has filed its unaudited condensed interim financial statements and related Management’s Discussion and Analysis for first quarter of 2014 with SEDAR. Highlights included the disposition of Chip Lake assets for net proceeds of $3.1 million and a $5 million reduction in bank indebtedness.

As quoted in the press release:

Hyperion’s Q2, 2014 will reflect the first full quarter without production contribution from the Chip Lake asset. In addition, the Company produced a seasonal gas producer in the first quarter that was shut in at the beginning of Q2, 2014. This seasonal producing gas well has a cumulative amount of gas that it is allowed to produce annually and will go on production again in January 2015. The combined production loss from Q1, 2014 to Q2, 2014, resulting from the sale of the Chip Lake and the shut in of the seasonal producer, is approximately 100 boe/d.

Click here to read the Hyperion Exploration Corp. (TSXV:HYX) press release