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CALGARY, AB – Lycos Energy Inc. (“ Lycos ” or the “ Company “) ( TSXV: LCX ) is pleased to announce its operating and financial results for the three months ended March 31, 2023. Selected financial and operating information is outlined below and should be read with Lycos’ unaudited financial statements and related management’s discussion and analysis (“ MD&A “) for the three months ended March 31, 2023, which are available at sedar.com and www.lycosenergy.com . Financial and Operating Highlights Three months ended March 31, ($ in thousands, except per share) 2023 2022 Petroleum and natural gas sales, net of blending (1) 10,287 7,803 Cash flow from operating activities (3,424) 2,087 Per share – basic $ (0.01) $ 0.03 Per share – diluted $ (0.01) $ 0.03 Adjusted funds flow from operations (1) 2,622 2,426 Net income 21,812 1,347 Per share – basic $ 0.07 $ 0.02 Per share – diluted $ 0.06 $ 0.02 Capital expenditures – exploration & development 11,687 491 Capital expenditures – net acquisitions & dispositions 50,000 (185) Adjusted working capital (net debt) (1) (4,982) 56,835 Weighted average shares outstanding (thousands) Basic 318,148 78,499 Diluted 338,403 78,499 Average daily production: Crude oil (bbls/d) 1,919 […]
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