JRNGF - Journey Energy GAAP EPS of -C$0.03 revenue of C$53.51M; narrows FY23 guidance

2023-08-09 03:56:13 ET

• Journey Energy press release ( OTCQX:JRNGF ): Q2 GAAP EPS of -C$0.03.
• Revenue of C$53.51M (-21.2% Y/Y).
• Increased daily sales volumes by 29% to 12,400 boe/d in the second quarter of 2023 from 9,590 boe/d in the second quarter of 2022.
• Generated Adjusted Funds Flow of C$11.3 million or C$0.18 per basic share and C$0.17 per diluted share.
• Produced 6,830 megawatts of electricity at Journey's power generation facility in Countess, Alberta at an average price of C$181.67/MWh.
• The reduced activity levels, project phasing, and unbudgeted downtime has led Journey to reduce its annual production guidance by 500 boe/d from 12,500 – 13,000 boe/d to 12,000 -12,500 boe/d.
• Adjusted Funds Flow per weighted average share of C$1.07 - C$1.10; Capital spending of C$46 million.

For further details see: