July 18, 2018 - 8:37 PM EDT
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Petrodorado Files Financial Results and Management Discussion and Analysis for the Second Quarter of 2018 and Issues Stock Options




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

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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: [email protected]

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.







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

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Source: FSCwire (July 18, 2018 - 8:37 PM EDT)

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