Crown Point Energy, Inc. (TSE:CWV) has released an update.
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Crown Point Energy Inc. reported its Q1 2024 results, with $6.1 million in oil and gas sales and $0.5 million in operating cash flow, despite a net loss of $0.9 million and a working capital deficit of $19.9 million. Sales volumes declined compared to Q1 2023, due to lower gas sales in the TDF Concessions. The company is also in the process of acquiring new concessions in Santa Cruz, with the deal expected to close in July 2024.
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