Forent Energy Announces Q3 2015 Financial and Operating Results - Seite 3

Forent's net debt (calculated as bank debt and current liabilities less current assets) at September 30, 2015, was $5.2 million compared with net debt of $5.8 million at the beginning of the year. The Company has access to a credit facility of $7.0 million of which $5.1 million was drawn at the end of the quarter.

PRODUCTION

The Company's production remains steady as oil and natural gas sales during the third quarter averaged 210 boe/d compared with 221 boe/d in Q3 2014. Oil and natural gas sales for the nine month period averaged 217 boe/d compared with 193 boe/d for the same period in 2014.

OUTLOOK

What is ahead for our company? More carefully considered acquisitions. Our strong technical team with the guidance and support of our Board of Directors positions us to survive the downturn in prices and to use this time as an opportunity to acquire prime assets as we build the company.

ADVISORY: Certain information in this news release, including the operations at the Company's properties, constitute forward-looking statements under applicable securities laws. Although Forent believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Forent can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings which are available at www.sedar.com.