Sept 28 South America-focused oil and gas
producer Canacol Energy Ltd reported a fall in
fourth-quarter profit on lower average daily sales volumes.
The company's net income fell to $3.8 million, or 1 cent per
share, in the April-June period, from $18.4 million, or 4 cents
per share, a year earlier.
Revenue fell 3 percent to $45.7 million.
Average daily sales volumes for the quarter fell 7 percent
to 10,814 barrels of oil per day due to operational problems,
including pump failures, the company said.
Quarterly funds from operations fell 33 percent to 2 cents
Shares of the company closed at 45 Canadian cents on
Thursday on the Toronto Stock Exchange.