* Q3 loss/shr C$0.05 vs loss/shr C$0.06 yr-ago
* Q3 rev up 29 pct
* Sees weak natural gas prices in Q4
* Says to focus on oil production in 2011
Nov 15 Oil and gas explorer Anderson Energy Ltd
AXL.TO posted a narrower quarterly loss, but forecast weak
natural gas prices for the fourth quarter and lowered its
full-year production outlook.
The Calgary, Alberta-based company said it could set a 2011
capital program which could be focused almost wholly on oil,
given the projected weakness in natural gas pricing.
Last month, Anderson had said wetter-than-normal weather
slowed drilling and production at its Cardium acreage in
The company now expects 2010 production to be at the lower
end of its prior outlook of 7,700-8,200 barrels of oil
equivalent per day.
July-September net loss was C$9 million, or 5 Canadian cents a
share, compared with a net loss of C$9.4 million, or 6 Canadian
cents a share, a year ago.
Oil and gas revenue rose 29 percent to C$18.9 million.
Analysts on average were expecting a loss of 6 cents a
share on revenue of $23.8 million, according to Thomson Reuters
Shares of the company have lost 9 percent in value since it
posted a second-quarter loss in August. They closed at C$1.07
on Monday on the Toronto Stock Exchange.
(Reporting by Gowri Jayakumar and Arnika Thakur in Bangalore;
Editing by Unnikrishnan Nair)