CALGARY, ALBERTA--(Marketwire - Nov. 28, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Santa Maria Petroleum Inc. (formerly Quetzal Energy Ltd.) (TSX VENTURE:SMQ) announces its unaudited results for the nine months ended September 30, 2012.
HIGHLIGHTS DURING THE QUARTER ENDED SEPTEMBER 30, 2012 AND SUBSEQUENT
HIGHLIGHTS DURING THE QUARTER
Month (2012) | Total gross production (bbls) |
Average bopd | Santa Maria's share @45.275%3 (bbls) |
August 1 | 17,530 | 1,252 | 7,937 |
September | 23,342 | 778 | 10,568 |
Q3 | 40,872 | 929 | 18,505 |
October | 24,877 | 802 | 11,263 |
November2 | 17,572 | 651 | 7,956 |
Total | 83,321 | 817 | 37,724 |
1 | For the period of August 18, 2012 to August 31, 2012. |
2 | For the period of November 1, 2012 to November 27, 2012. |
3 | Santa Maria has a 34.25% working interest in the Flami-1 well, but earns 45.275% until it has recovered the capital expenditures made on behalf of its carried interest joint venture partners. |
During the third quarter, Santa Maria's 42.75% pre-payout share of sales proceeds from the Flami-1 well, net of royalties and transportation costs, was $1,273,198, which has been capitalized.
Month (2012) | Total gross production (bbls) |
Average bopd | Santa Maria's share @25% (bbls) |
July1 | 5,156 | 303 | 1,289 |
August | 8,165 | 263 | 2,041 |
September | - | - | - |
Q3 | 13,321 | 277 | 3,330 |
October | 18,587 | 600 | 4,647 |
November2 | 17,553 | 650 | 4,388 |
Total | 49,461 | 471 | 12,365 |
1 | From the commencement of production on July 15, 2012 until July 31, 2012. |
2 | For the period of November 1, 2012 to November 27, 2012. |
Santa Mara's 25% working interest share of sales proceeds, net of royalties, from the Canaguaro production during the third quarter was $294,256, which was capitalized.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Quetzal, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with oil and gas activities, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither 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.
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