3 days ago
FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q1 2025 FINANCIAL RESULTS
CALGARY, AB, May 30, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three months ended March 31, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended Mar. 31, 2025 and 2024 ("2025 Q1 Documents"). Financial and operating highlights for the period include:
Achieved average corporate production of 1,636 boe/d compared to average corporate production in Q4/24 of 1,624 boe/d.
First quarter of 2025, Fiddlehead's petroleum and natural gas sales totaled $3,975,870 and Funds Flow used in Operations was $194,854.
Readers are encouraged to read the 2025 Q1 Documents in their entirety, which are available on SEDAR+ at and on Fiddlehead's website at
(Expressed in $000s except per share, price and volume amounts.)
Three months ended
March 31
December 31
March 31
2025
2024
2024
OPERATING HIGHLIGHTS AND NETBACKS 1
Average production and sales volumes
Light oil (bbls/d)
119
134
-
NGLs (bbls/d)
394
378
-
Natural gas (Mcf/d)
6,746
6,675
-
Total (BOE/d)
1,636
1,624
-
Average realized sales prices
Light oil ($/bbl)
91.79
91.72
-
NGLs ($/bbl)
49.32
55.39
-
Natural gas ($/Mcf)
2.06
1.28
-
Total oil equivalent ($/BOE)
27.13
25.86
-
Netbacks ($/BOE) 1
Petroleum and natural gas sales
27.13
25.86
-
Royalties
6.65
6.67
-
Operating expenses
11.65
11.25
-
Transportation expenses
0.10
0.09
-
Operating Netback 1
8.74
7.84
-
General and administrative expenses
7.62
8.86
-
Finance costs
6.27
4.98
-
Adjusted Funds Flow Netback 1,2
(5.15)
(6.10)
-
FINANCIAL HIGHLIGHTS
Petroleum and natural gas sales
3,976
3,844
-
Petroleum and natural gas sales, net of royalties
2,996
2,846
-
Net loss & comprehensive loss
(2,497)
(2,295)
(138)
Basic per share
(0.04)
(0.04)
(0.03)
Diluted per share
(0.04)
(0.04)
(0.03)
Cash flow used in operating activities
(145)
(812)
(146)
Funds Flow from Operations 2
(195)
(74)
(127)
Basic per share
(0.00)
(0.00)
(0.02)
Diluted per share
(0.00)
(0.00)
(0.02)
Acquisitions
-
-
-
Total assets
30,054
31,714
245
Total non-current financial liabilities
11,482
11,666
-
Total long-term debt, including current portion
12,120
12,168
-
Shareholders' equity
3,412
5,909
229
Weighted average common shares outstanding (000s) – basic 3
60,521
60,521
5,276
Weighted average common shares outstanding (000s) – diluted 3
60,521
60,521
5,276
Common shares outstanding (000s), end of period 4
60,521
60,521
5,276
1
"Netbacks" are non-GAAP financial measure calculated per unit of production. "Operating Netback", and "Adjusted Funds Flow Netback" do not have standardized meanings under IFRS Accounting Standards. See " Non-GAAP Financial Measures " section
2
"Funds Flow from Operations" ("FFO") does not have a standardized meaning under IFRS Accounting Standards. See "Non-GAAP Financial Measures".
3
Common shares outstanding have been adjusted as a result of the Share Consolidation.
READER ADVISORIES
In this press release, all references to "$" are to Canadian dollars.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Fiddlehead Resources Corp.
