CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE QUARTERS ENDED MARCH 31, 2014 AND 2013 (unaudited)
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited, expressed in thousands of Canadian dollars) March 31, December 31, 2014 2013 ASSETS Current assets Accounts receivable 1,264 1,547 Prepaid expenses and deposits 190…
CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited, expressed in thousands of Canadian dollars) Three months ended March 31, 2014 2013 Revenues Oil and gas sales 4,947 7,377 Royalties (702) (614) Net oil and…
CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY Share Contributed Total (Unaudited , expressed in thousands of Canadian Dollars) Capital Warrants Surplus Deficit Equity Balance, January 1, 2013 65,687 9,302 5,015…
CONDENSED INTERIM STATEMENTS OF CASH FLOWS (Unaudited, expressed in thousands of Canadian dollars) Three months ended March 31, 2014 2013 Operating Activities Net loss (331) (14,228) Depletion and depreciation (Note 3) 1,223 2,672…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited, expressed in thousands of Canadian dollars unless otherwise stated) 1. REPORTING ENTITY Hyperion Exploration Corp. (Hyperion or the Corporation) was incorporated…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 3. PROPERTY, PLANT & EQUIPMENT Petroleum and natural gas Corporate assets assets Total Cost: At January 1, 2013 114,947 278 115,225 Capital expenditures 7,049 13 7,062…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS In the first quarter of 2013, the Corporation explored the potential of disposing of certain assets and/or entering into joint venture arrangements. As a result, the Corporation…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 6. LOSS PER SHARE Basic loss per share was calculated as follows: March 31, March 31, 2014 2013 Net loss for the period (331) (14,228) Weighted average number of common…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS Natural Gas (AECO Basis) Volume Volume Remaining Term Contract (GJ/d) (GJ) Fixed Price April 1, 2014 to October 31, 2014 Floor 500 107,000 CAD4.00 April 1, 2014 to October 31,…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS Subsequent to March 31, 2014, the Corporation entered into the following commodity contracts: Light Oil (NYMEX WTI Basis) Volume Volume Remaining Term Contract (bbl/d) (bbl)…
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 8. OPERATING LEASES Although the Corporation believes that it has title to its petroleum and natural gas properties, it cannot control or completely protect itself against the…
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