Bengal Energy Announces Fiscal 2018 Third Quarter Results

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CALGARY, Alberta, Feb. 13, 2018 (GLOBE NEWSWIRE) --

The following is an overview of the financial and operational results during the three-month period ended December 31, 2017:

(1)  Operating netback is a non-IFRS measure and includes realized losses on financial instruments. Netback per boe is calculated by dividing revenue (including realized loss on financial instruments) less royalties, operating and transportation costs by the total production of the Company measured in boe.(2)  Funds from operations per share is a non-IFRS measure calculated by dividing funds from operations by weighted average basic and diluted shares outstanding for the periods disclosed.(3)  Adjusted net income (loss) and adjusted net income per share are non-IFRS measures.  The comparable IFRS measure is net income (loss).  A reconciliation of the two measures can be found in the table on page 6.

Bengal has filed its consolidated financial statements and management’s discussion and analysis for the third fiscal quarter of 2018 with the Canadian securities regulators. The documents are available on SEDAR at www.sedar.com or by visiting Bengal’s website at .

Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company is committed to growing shareholder value through international exploration, production and acquisitions. Bengal’s common shares trade on the TSX under the symbol “BNG”. Additional information is available at .

 

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Globe Newswire: 00:19 GMT Wednesday 14th February 2018

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