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Shoreline Sees Upswing in Montney Potential; 71% Revenue Boost
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Shoreline Energy Corp. has reported an update to its production, working capital as well as increased its Montney potential.
Financial and Operational Summary Revenue has increased by 71% to $23.0 million for the nine months ended September 30, 2013 compared to $13.4 million for the same period one year ago; Year-to-date production has increased 26% to 2,092 BOED at September 30, 2013 compared to 1,666 BOED during the corresponding period last year. As expected, production declined from peak levels in the second quarter of 2013 due to normal declines of new wells; On October 31, 2013 the Company became compliant with its working capital covenant in relation to its bank debt and continues to take measures to maintain this status going forward; Shoreline's total net debt has decreased by…- ✓ Full news archive — U.S., Canada & international coverage
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