Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd.

November 29, 2013 07:30 ET

Quattro Announces 2013 Third Quarter Results

CALGARY, ALBERTA--(Marketwired - Nov. 29, 2013) - Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to report financial results for its third quarter, ended September 30, 2013.

For the nine months ending September 30th, 2013, largely as a result of the acquisition of producing oil and gas properties by Quattro announced on November 5, 2013, effective January 1, 2013, the Company has achieved production levels greater than 1072 boe/d, with the Company's current efforts providing a clear path towards daily average production rates of 1,100 boe/d for the full year ending December 2013 and an exit production rate of approximately 1,200 boe/d by the end of the 4th quarter of 2013.

When the effects of the Acquisition are included, total revenues for the nine months ending September 30th 2013 were $11,342,127 compared with $2,099,014 for the comparative period in 2012, greater than a 500% increase.

"The third quarter 2013 marks the evolution of Quattro from an emerging company to a full cycle oil and gas producer in Western Canada." stated Leonard Van Betuw, President & CEO of the Company. "The Company continues to grow its cash flow in Western Canada based on a foundation of conservative cash management and a strong capital structure. Quattro continues to evaluate additional acquisitions and divestitures, taking aim on increasing cash flows to levels in Western Canada that are harmonized with our international activities in 2014."

About Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd. is focused on the conventional exploration and development of oil and natural gas reserves in Western Canada. Our growing core of low risk production and development drilling will provide us the capacity to aggressively pursue a series of high impact exploration and development efforts in Central and South America. The company intends to balance this portfolio of activities to assure its shareholders that it achieves material growth including reserves, production and profitability.

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.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

BOE presentation:

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

Trading in the securities of Quattro Exploration & Production Ltd. should be considered highly speculative. 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.

Contact Information