Petrodorado Files Financial Results and Management Discussion and Analysis for the Second Quarter of 2018 and Issues Stock Options

July 18, 2018 - 8:37 PM EDT

Petrodorado Files Financial Results and Management Discussion and Analysis for the Second Quarter of 2018 and Issues Stock Options

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. ("Petrodorado" or the "Company") (TSXV-PDQ) has filed its interim Financial Results and Management Discussion & Analysis for the three and six months ended June 30, 2018 and announces the issuance of stock options to directors and officers of the Company.

Financial Statements

Highlights include:

Working capital of $1.1 million
Virtually no remaining contractual commitments

$ (U.S. dollars)	Period ended June 30, 2018	Period ended June 30, 2017
Working Capital	1,110,690	1,484,162
Total Assets	1,123,816	1,568,308
Cash flows used in Operating Activities (six months)	354,839	284,466
Cash flows used in Operating Activities (three months)	80,868	89,612
Net Loss (six months)	322,745	288,761
Net Loss (three months)	58,025	142,756
Net Loss per Share, basic & diluted (six months)	0.01	0.03
Net Loss per Share, basic & diluted (three months)	0.00	0.01

Complete reports and statements are available on SEDAR at www.sedar.com and on the Company website www.petrodorado.com.

Issuance of Stock Options

The Company announces that the Board of Directors has awarded a total of 1,500,000 options to directors and officers. The options are exercisable into common shares in the capital of the Company at an exercise price of $0.10 per share. The options vest as to one third immediately with an additional one third vesting on the first annual anniversary of the date of grant with the remainder vesting on the second annual anniversary of the date of grant. The expiry for all options is July 2023.

About Petrodorado Energy Ltd.

Petrodorado is engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is located in Calgary, Alberta, Canada and Petrodorado’s common shares are traded on the TSXV under the trading symbol “PDQ”.

For further information, please contact:

Chris Reid, President and CEO

Lynn Chapman, VP Finance and CFO

Phone: (403) 800-9240

Email: info@petrodorado.com

Website: www.petrodorado.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the original release, please click here

Source: Petrodorado Energy Ltd. (TSX Venture:PDQ)

To follow Petrodorado Energy Ltd. on your favorite social media platform or financial websites, please click on the icons below.