Dune Energy Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $13.084 million compared with $13.395 million a year ago. Operating income was $41,792 compared to operating loss of $939,748 a year ago. Net loss was $3.210 million or $0.05 per basic and diluted share compared with a $3.590 million or $0.09 per basic and diluted share a year ago. Net cash provided by operating activities was $8,770,153 compared to $8,174,741 reported a year ago. Investment in proved and unproved properties was $18,426,091 compared to $8,956,747 reported a year ago. Purchase of furniture and fixtures was $130,006 compared to $69,308 a year ago. Production volumes in the first quarter were 162 Mboe with 60% of this production being oil. This compares with 229 Mboe for the first quarter of 2012 with a 43% oil cut. In the first quarter of 2013, the average sales price per barrel of oil was $110.04 and $3.71 per Mcf for natural gas, as compared with $110.73 per BO and $3.12 per Mcf, respectively for the first quarter of 2012. Oil prices decreased 1% and gas prices increased 19% from 2012 levels. During the first quarter of 2013 oil revenue accounted for 88% of the total production revenue.

Dune Energy Inc. announced that they will report Q1, 2013 results at 1:00 PM, GMT Standard Time on May 14, 2013

Dune Energy Inc., Q1 2013 Earnings Call, May 14, 2013