UPDATE 1-Crocotta Energy posts loss in Q2
* Q2 loss C$0.07/shr vs. profit of C$0.10/shr last year
* Revenue down 67 percent
Aug 11 (Reuters) - Crocotta Energy Inc (CTA.TO) on Tuesday posted a second-quarter loss hurt by the steep slide in oil and gas prices, and lower output.
The Canada-based oil and natural gas company posted a net loss of C$3.2 million ($2.94 million), or 7 Canadian cents a share for the three months ended June 30, compared to a profit of C$3.4 million, or 10 Canadian cents a share, in the same period last year.
Revenue for the quarter plunged 67 percent to C$6.4 million.
One analyst had expected the company to report a loss of 6 Canadian cents a share, before items, on revenue of C$6.23 million, according to Reuters Estimates.
Funds from operations for quarter was C$1.9 million, or 4 Canadian cents a share, down from C$12.0 million, or 36 Canadian cents a share, last year.
Daily production for the quarter fell 22 percent to 2,006 barrels of oil equivalent per day.
The company's shares closed at C$1.10 Monday on the Toronto Stock Exchange. ($1=1.090 Canadian Dollar) (Reporting by Chakradhar Adusumilli in Bangalore; Editing by Hezron Selvi)
