Last C$1.61 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 4:00 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

corridor resources inc (CDH) Snapshot

Open
C$1.63
Previous Close
C$1.61
Day High
C$1.63
Day Low
C$1.55
52 Week High
02/19/14 - C$2.47
52 Week Low
11/11/13 - C$0.71
Market Cap
142.6M
Average Volume 10 Days
243.9K
EPS TTM
C$0.07
Shares Outstanding
88.6M
EX-Date
--
P/E TM
24.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for CORRIDOR RESOURCES INC (CDH)

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corridor resources inc (CDH) Details

Corridor Resources Inc., a junior resource company, explores for, develops, and produces petroleum and natural gas properties in eastern Canada. The company explores for petroleum and natural gas onshore in New Brunswick and Québec, as well as offshore in the Gulf of St. Lawrence. Its principal properties include the McCully Field and the Elgin Sub-Basin located in New Brunswick; the Anticosti Island in Québec; and the Gulf of St. Lawrence. As of December 31, 2013, the company had an interest in 27.5 net producing and nonproducing natural gas and oil wells. Corridor Resources Inc. was founded in 1983 and is headquartered in Halifax, Canada.

17 Employees
Last Reported Date: 03/25/14
Founded in 1983

corridor resources inc (CDH) Top Compensated Officers

Chief Financial Officer and Secretary
Total Annual Compensation: C$169.3K
Chief Geologist
Total Annual Compensation: C$186.0K
Chief Geophysicist
Total Annual Compensation: C$164.3K
Production Operations Manager
Total Annual Compensation: C$186.6K
Compensation as of Fiscal Year 2013.

corridor resources inc (CDH) Key Developments

Corridor Resources Inc. Reports Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Cash Flow Guidance for the Year 2014

Corridor Resources Inc. reported unaudited earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of CAD 3,632,000 against CAD 4,013,000 a year ago. Net income was CAD 6,251,000 against CAD 370,000 a year ago. Net income per diluted share was CAD 0.070 against net income per basic and diluted share of CAD 0.004. Cash flow from operations was CAD 1,057,000 against CAD 1,754,000 a year ago. Capital expenditure was CAD 1,818,000 against CAD 629,000 a year ago. The company’s cash flow from operations for the second quarter of 2014 decreased due primarily to lower natural gas production. For the six months, the company reported sales of CAD 15,345,000 against CAD 12,127,000 a year ago. Net income was CAD 10,260,000 against CAD 2,899,000 a year ago. Net income per diluted share was CAD 0.114 against net income per basic and diluted share of CAD 0.033. Cash flow from operations was CAD 9,130,000 against CAD 7,065,000 a year ago. Capital expenditure was CAD 2,623,000 against CAD 1,102,000 a year ago. The company's cash flow from operations for the six months ended June 30, 2014 increased as a result of the higher natural gas sales prices at the Algonquin city-gate during this period. For the quarter, the company reported natural gas production of 653 mmscf against 754 mmscf a year ago. Natural gas production per day was 7.2 mmscfpd against 8.3 mmscfpd a year ago. For the six months, the company reported natural gas production of 1,334 mmscf against 1,515 mmscf a year ago. Natural gas production per day was 7.4 mmscfpd against 8.4 mmscfpd a year ago. The company has decreased its budgeted 2014 cash flow from operations from CAD 15 million to CAD 14 million to reflect lower than expected natural gas prices in second quarter of 2014 and July 2014. Based on available working capital of CAD 17.3 million at December 31, 2013 and Corridor's capital budget of CAD 27.2 million for 2014.

Phil Knoll Intends to Step Down as President and CEO of Corridor Resources

Corridor Resources Inc. announced that Mr. Phil Knoll intends to step down as President and CEO for personal reasons. A process to hire a successor to Mr. Knoll is underway and the executive search firm of Boyden Global Executive Search has been retained to assist with the process. It is anticipated that an announcement in respect of the new President and CEO will be made during the third quarter. Mr. Knoll will continue as a member of Corridor's Board of Directors.

Corridor Resources Inc., Annual General Meeting, Jun 19, 2014

Corridor Resources Inc., Annual General Meeting, Jun 19, 2014., at 15:00 US Mountain Standard Time. Location: offices of Bennett Jones LLP, 4500 Bankers Hall East. Agenda: To receive the audited financial statements of Corridor for the year ended December 31, 2013, together with the Auditors' Report on those statements; to elect directors of Corridor for the next year; to appoint auditors for Corridor for the next year and to authorize the directors to fix their remuneration; to consider and, if thought advisable, pass an ordinary resolution to continue, ratify and amend and restate the shareholder rights plan of Corridor; and to transact such other business as may properly be brought before the meeting or any adjournment thereof.

 

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Price/Earnings 4.7x
Price/Sales 6.0x
Price/Book 0.8x
Price/Cash Flow 13.6x
TEV/Sales 4.5x
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