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Corridor Resources Inc. (T:CDH)

Business Focus: Oil & Gas Exploration and Production

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Sector:  Energy Industry:  Oil & Gas Exploration and Production
 
See Regulatory Filings on SEDAR
Company Contact
Address: 5475 Spring Garden Rd Suite 301
HALIFAX NS B3J 3T2
Tel: N/A
Website: https://www.corridor.ca
IR: See website
Key People
J. Douglas Foster
Independent Chairman of the Board
Lisette F. Hachey
Chief Financial Officer
Paul Durling
Chief Geophysicist
Tom Martel
Chief Geologist
Stephen J. Moran
President, Chief Executive Officer, Director
 
Business Overview
Corridor Resources Inc. is a junior resource company. The Company is engaged in the exploration for and development and production of petroleum and natural gas onshore in New Brunswick and Quebec, and offshore in the Gulf of St. Lawrence. It has natural gas production and reserves in the McCully Field that is located over 10 kilometers northeast of Sussex, New Brunswick. It has a shale gas prospect in New Brunswick, an offshore conventional hydrocarbon prospect in the Gulf of St. Lawrence and an unconventional hydrocarbon prospect through an interest in Anticosti Hydrocarbons L.P. It focuses on properties, such as Anticosti Island, including its interest in over 1,530,940 gross acres in approximately 30 exploration licenses; Elgin Sub-Basin in the Moncton basin in southeastern New Brunswick, including Frederick Brook shale gas prospect, and Old Harry prospect, which is located partly in the Quebec sector partly in the Newfoundland and Labrador sector of the Gulf of St. Lawrence.
Financial Overview
For the fiscal year ended 31 December 2018, Corridor Resources Inc. revenues increased from C$7.3M to C$16.4M. Net loss totaled C$314K vs. income of C$17.7M. Revenues reflect Gas Revenues increase from C$7.7M to C$16.9M. Net loss reflects Impairment losses (reversal) increase from C$12M (income) to C$10.9M (expense), Gain on disposition of assets decrease from C$5.6M (income) to C$0K, Depreciation increase of 85% to C$4.8M (expense).
Employees: 10 as of Dec 31, 2016
Reporting Currency: Canadian Dollars
Enterprise value: $6.74M as of Mar 31, 2019
Annual revenue (TTM): $16.44M as of Mar 31, 2019
EBITDA (TTM): $10.64M as of Mar 31, 2019
Net annual income (TTM): -$0.31M as of Mar 31, 2019
Free cash flow (TTM): $9.62M as of Mar 31, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 88,811,291 as of Jun 3, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization