Coelacanth Energy, Inc. (TSE:CEI) has released an update.
Coelacanth Energy Inc. has reported a significant increase in Q1 2024 financials with oil and natural gas sales surging 284% to $3.66 million, and a notable improvement in cash flow from operations, which went from a deficit to $3.26 million. Despite this, the company experienced a net loss of $1.2 million, although this loss decreased by 33% from the previous year. Production metrics also showed substantial growth, with daily production of oil equivalents jumping 242%.
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