CALGARY, Alberta, Jan. 14, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to provide its first quarter capital budget and outlook for 2020.  With the risk of volatility in the price of Canadian light oil and natural gas, the Company believes that it is prudent to maintain a disciplined capital budget that is flexible from an operational and financial perspective.  Petrus’ Board of Directors has approved a first quarter 2020 capital budget of $9.0 million.  Petrus will continue to monitor the Canadian commodity price environment and will evaluate subsequent quarter capital spending as … Continue Reading

CALGARY, Alberta, Dec. 09, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce that it has entered into an agreement for the sale of its oil and natural gas interests in the Foothills area of Alberta to an arm’s length private company for total consideration of $1.8 million, subject to customary closing conditions and adjustments (the “Disposition”).  The Disposition has an effective date of November 1, 2019 and is expected to close in the first quarter of 2020. 

NON-CORE ASSET DISPOSITION

In the third quarter of 2019, production in the Company’s Foothills … Continue Reading

CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and nine months ended September 30, 2019. Petrus is focused on generating free funds flow for debt repayment and further development of its Ferrier Cardium asset to increase light oil and total liquids weighting. The Company’s Management’s Discussion and Analysis (“MD&A”) and interim consolidated financial statements dated as at and for the period ended September, 2019 are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at … Continue Reading

CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results for the second quarter of 2019. Petrus is focused on organic growth and infrastructure control in its core area, Ferrier, Alberta. In order to maximize return on investment, the Company is targeting light oil and liquids rich natural gas in the Cardium formation as well as investing in infrastructure in Ferrier to control operations. The Company’s Management’s Discussion and Analysis (“MD&A”) and interim consolidated financial statements dated as at and for the period ended June … Continue Reading

CALGARY, Alberta, May 31, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces the completion of the 2019 annual review of its revolving credit facility (“RCF”), and provides an operations update.

REVOLVING CREDIT FACILITY

The 2019 annual review of the RCF has been completed.  The RCF syndicate of lenders have reduced the Company’s borrowing base of $110 million to $100 million.  The revolving period has been extended to May 31, 2020 and the maturity date for repayment of the RCF is May 31, 2020.  Borrowings under the RCF above $95 million are subject to an … Continue Reading

CALGARY, Alberta, May 07, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company“) (TSX: PRQ) is pleased to announce that its shareholders approved all resolutions at its annual meeting of shareholders held today (the “Meeting”). The resolutions approved at the Meeting were as follows:… Continue Reading

CALGARY, Alberta, May 06, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results for the first quarter of 2019. Petrus is focused on organic growth and infrastructure control in its core area, Ferrier, Alberta. The Company is targeting light oil and liquids rich natural gas in the Cardium formation as well as investing in infrastructure in Ferrier to control operations in order to maximize the Company’s return on investment. The Company’s Management’s Discussion and Analysis (“MD&A”) and interim consolidated financial statements dated as at and for the period … Continue Reading

CALGARY, Alberta, March 14, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results for the three and twelve month periods ended December 31, 2018 and to provide 2018 year end reserves information as evaluated by Sproule Associates Limited (“Sproule”). The Company’s Management’s Discussion and Analysis (“MD&A”) and audited consolidated financial statements dated as at and for the year ended December 31, 2018 are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedar.com.… Continue Reading

CALGARY, Alberta, Jan. 07, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to provide an operations update and its 2019 outlook. With the recent volatility in the price of both Canadian light oil and natural gas, the Company believes that it is prudent to develop a disciplined capital budget that is flexible from an operational and financial perspective.  Petrus’ Board of Directors has approved a first quarter 2019 capital budget of $8 to $10 million.  Petrus will continue to monitor the Canadian commodity price environment and will evaluate subsequent quarter capital spending as … Continue Reading

CALGARY, Alberta, Nov. 08, 2018 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) is pleased to report financial and operating results for the third quarter of 2018. The Company’s Management’s Discussion and Analysis (“MD&A”) and interim consolidated financial statements dated as at and for the period ended September 30, 2018 are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedar.com.… Continue Reading

CALGARY, Alberta, Aug. 09, 2018 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) is pleased to report financial and operating results for the second quarter of 2018. The Company’s Management’s Discussion and Analysis (“MD&A”) and interim consolidated financial statements dated as at and for the period ended June 30, 2018 are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedar.com.… Continue Reading

CALGARY, Alberta, May 17, 2018 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX:PRQ) is pleased to announce a one year extension of its second lien term loan maturity date and the completion of the 2018 annual review of its revolving credit facility (“RCF”).… Continue Reading