Drillsearch pleased with December quarter results

Company News

Drillsearch Energy Limited (ASX:DLS) says the December quarter was a momentous period for the company, with the announcement of an all-scrip merger with Beach Energy.
 
The company’s production for the quarter was little changed at 810 thousand barrels of oil equivalent, amounting to 1.63 million barrels of oil equivalent for the half year.
 
Late in the quarter, production commenced at Cadenza-1 and Yarrowinnie South-1 in the Western Wet Gas joint venture with Santos.
 
Drillsearch expects FY2016 production to be at or above the higher end of Full-year guidance of 2.8 million to 3.2 million barrels of oil equivalent.
 
Drillsearch reported a net loss of $8.07 million at 30 June 2015.