Palo Duro Energy Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported loss from continuing operations of CAD 41,207 against CAD 81,587 a year ago. Net loss was CAD 118,325 against CAD 3,806 a year ago. Cash used in operating activities was CAD 38,902 against CAD 110,194 a year ago. For the nine months, the company reported loss from continuing operations of CAD 223,899 against CAD 154,335 a year ago. Net loss was CAD 303.910 or CAD 0.01 per basic and diluted share against CAD 113,157 or CAD 0.0 per basic and diluted share a year ago. Cash used in operating activities was CAD 133,627 against CAD 268,366 a year ago.

Palo Duro Energy Inc. announced the appointment of Kurt Bordian as Interim President and CEO. He has worked mainly in the mineral exploration and oil and gas industries over the past 10 years, and currently serves as an Officer and Director of several other public companies. The company also announced the resignation of Bill Koutsouras as President and CEO.

Palo Duro Energy Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported loss from continuing operations of CAD 50,753 against CAD 51,186 for the same period in the last year. Net loss was CAD 53,646 against CAD 64,231 for the same period in the last year. Net operating cash flows were CAD 72,907 against CAD 112,247 for the same period in the last year. For the six months, the company reported loss from continuing operations of CAD 182,692 or CAD 0.01 per basic and diluted common share against CAD 72,748 for the same period in the last year. Net loss was CAD 185,585 or CAD 0.01 per basic and diluted common share against CAD 109,351 for the same period in the last year. Net operating cash flows were CAD 91,832 against CAD 158,006 for the same period in the last year.