RUBLF - Rubellite Energy GAAP EPS of -C$0.21 revenue of C$10.88M

Rubellite Energy press release (OTCPK:RUBLF): Q1 GAAP EPS of -C$0.21. Revenue of C$10.88M (+176.8% Q/Q). The Company averaged 1,525 bbl/d of sales production during the month of March and achieved its 2,000 bbl/d production milestone in late March. Adjusted funds flow  was C$3.8 million in the first quarter of 2022 (Q4 2021 - C$1.5 million), up 153% quarter-over-quarter, driven by the growth in sales production. Cash flow from operating activities was C$3.2 million (Q4 2021 - C$1.1 million). Rubellite forecasts capital spending of C$26.0 to C$28.0 million for the remainder of 2022 to drill. Forecast drilling activities are expected to be fully funded from adjusted funds flow and the Company's credit facility.

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Rubellite Energy GAAP EPS of -C$0.21, revenue of C$10.88M