* Q1 EPS breakeven vs est loss C$0.07/shr
* Q1 rev down 14 pct to C$26.9 mln
* Reaffirms FY production outlook
May 6 Canada's Bellatrix Exploration Ltd
(BXE.TO) posted a surprise quarterly profit, partly helped by a
decrease in production expenses, and reaffirmed its full-year
For the first quarter, the oil and gas explorer earned
C$7,000, or breakeven per share, compared with net loss of
C$9.1 million, or 12 Canadian cents a year ago.
Revenue, before royalties and risk management, fell 14
percent to C$26.9 million.
Analysts on average were expecting loss of 7 Canadian cents
a share on revenue of C$25.5 million, according to Thomson
Production expenses for the quarter fell 37 percent to
C$8.7 million. The decrease in production expenses is due to
the disposition of properties with higher production costs in
the second half of 2009, the company said.
For the full year, Bellatrix said it expected average daily
production rate of about 8,500 barrels of oil equivalent
(boe/d) and an exit rate of about 10,000 boe/d.
Shares of the company closed at C$3.56 Thursday on the
Toronto Stock Exchange.
(Reporting by Arnika Thakur in Bangalore; Editing by Don