Canada Markets close in 1 hr 2 mins

Toscana Energy Income Corporation (TEI.TO)

Toronto - Toronto Real Time Price. Currency in CAD
Add to watchlist
0.01000.0000 (0.00%)
As of 3:12PM EDT. Market open.
Full screen
Previous Close0.0100
Open0.0100
Bid0.0050 x 0
Ask0.0100 x 0
Day's Range0.0050 - 0.0100
52 Week Range0.0050 - 0.0250
Volume389,700
Avg. Volume437,863
Market Cap1.451M
Beta (5Y Monthly)-0.81
PE Ratio (TTM)N/A
EPS (TTM)-0.2390
Earnings DateJul. 31, 2020 - Aug. 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateFeb. 25, 2016
1y Target EstN/A
  • GlobeNewswire

    Toscana Energy Announces Annual and Special Meeting

    CALGARY, Alberta, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation (Toscana) (TSX: TEI) is pleased to announce that it has scheduled its annual and special meeting for October 27, 2020 at 9:00 a.m. (Calgary time) (the Meeting). As previously announced by Toscana, the Meeting is being called to consider, among other annual matters of business, the previously announced transaction (the Arrangement) with i3 Energy plc (i3 Energy), an AIM-listed oil and gas company, pursuant to which i3 Energy will acquire all of the issued and outstanding common shares in the capital of Toscana pursuant to the terms of an arrangement agreement between Toscana and i3 Energy dated June 23, 2020 (the Arrangement Agreement). In furtherance of the foregoing, Toscana and i3 Energy entered into an amending agreement to the Arrangement Agreement dated September 9, 2020 to extend the date by which Toscana must call the Meeting to consider the Arrangement and to extend the outside date by which the Arrangement must close by.    Further details regarding the Arrangement will be contained in a management information circular (the Information Circular) to be prepared in connection with the Meeting and expected to be mailed to shareholders of Toscana in early October, 2020. The Information Circular will be available electronically on Toscana’s SEDAR profile at www.sedar.com shortly following the mailing of the Information Circular. Subject to receipt of all required approvals including approval by the shareholders of Toscana, regulatory approvals and approval by the Court of Queen’s Bench of Alberta, the Arrangement is expected to close on or about October 30, 2020.   About ToscanaToscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets.For further information, please contact: Ryan Heath, Chief Executive Officer Tel: (403) 355-0455 Fax: (403) 444-0090AdvisoriesForward-Looking InformationCertain statements contained in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook.Specific forward-looking statements in this press release include, but are not limited to: statements regarding the Arrangement, including completion of the Arrangement and the timing in respect thereof; the preparation and circulation of the Information Circular, the holding of the Meeting and the timing in respect thereof; and the timing of matters related to the approval of the Arrangement including shareholder, regulatory and Court of Queen’s Bench approvals and the timing in relation thereto. Such information reflects Toscana’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, without limitation: the impact of any changes in the laws and regulations in the jurisdictions in which Toscana operates.Although Toscana believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Toscana can give no assurance that such expectations will prove to be correct. The forward-looking statements and information are based on Toscana's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others: the risk that the Arrangement may not be completed on a timely basis, if at all; the conditions to the consummation of the Arrangement may not be satisfied; the risk that the Arrangement may involve unexpected costs, liabilities or delays; the possible occurrence of an event, change or other circumstance that could result in termination of the Arrangement; risks relating to the failure to obtain necessary shareholder and court approval; necessary approvals from the Toronto Stock Exchange or the TSX Venture Exchange in respect of the listing of the i3 Energy Shares may not be received or received in a timely fashion; the timing in respect of the delivery of the Information Circular and the Meeting may be delayed which in turn will delay the expected closing date of the Arrangement; general business and economic conditions; the overall performance of the stock market(s); actions of competitors and partners; and the regulatory environment. The foregoing is not exhaustive and other risks are detailed from time to time in other continuous disclosure filings of Toscana. Should one or more of the uncertainties or risks materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements contained herein are made as of the date of this press release and in each, case are expressly qualified by this cautionary statement. Toscana does not intend to nor does it assume any obligation to update publicly or revise any of the forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by applicable laws. Toscana cautions readers not to place undue reliance on these statements.SOURCE: Toscana Energy Income Corporation

  • GlobeNewswire

    Toscana Energy Announces Second Quarter 2020 Results

    CALGARY, Alberta, July 22, 2020 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces financial and operating results for the second quarter ended June 30, 2020. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2020. This news release should not be considered a substitute for reading the full disclosure documents, which are available under the Corporation’s profile on SEDAR at www.sedar.com and on the Corporation’s website at www.toscanaenergy.ca. Three months endedSix months ended  June 30June 30  20202019Change20202019Change         OPERATIONAL               Average daily production (boe/d)6611,080(39%)7711,102(30%) Gas (Mcf/d)1,8522,463(25%)1,9362,563(24%) Oil (bbl/d)332612(46%)413604(32%) NGL (bbl/d)2058(66%)3570(50%)         Average prices received ($/boe)14.7845.87(68%)24.4843.51(44%) Gas ($/Mcf)1.541.1040%1.731.692% Oil ($/bbl)19.7973.54(73%)35.5468.47(48%) NGL ($/bbl)17.3532.25(46%)24.0431.60(24%)         FINANCIAL               Petroleum and natural gas revenue, net of royalty expense ($)736,7714,035,543(82%)3,050,0487,966,721(62%) Total revenues ($)838,2075,334,208(84%)5,111,2648,145,192(37%)         Netback ($) (1)(678,937)1,817,481>100%(932,118)3,030,547>100% Netback per boe ($/boe) (1)(11.29)18.49>100%(6.64)15.20>100%         Adjusted funds flow from (used-in) operations ($) (1)(122,173)650,896>100%(1,711,557)695,030>100%         Notes:  (1)  Non – IFRS measure. Outlook As a result of the world wide COVID-19 pandemic and continued over-supply of oil by OPEC countries and other producing countries, global oil prices continue to remain volatile. The Corporation has shut-in its low netback oil wells and minimized future spending on all of its assets. Lower oil prices and the reduced average daily production volumes, due to shut-in oil wells continues to negatively impact the Corporation’s cash flows from operations. The COVID-19 pandemic is an evolving situation that is expected to continue to have widespread implications on the Corporation’s business, results of operations, financial condition and the environment in which it operates.Non-IFRS measures: Management uses “netback”, “Adjusted funds flow from operations”, to analyze operating performance and to determine the Corporation’s ability to fund future capital investment. These terms, as presented, do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and therefore may not be comparable with the calculation of similar measures for other entities. Readers are cautioned regarding the reliability of such measures.Netback typically equals (a) petroleum and natural gas revenue (including royalty revenues), net of royalty expense (b) realized gains and losses on risk management contracts and (c) less operating costs, net of processing income and is generally calculated on a per boe basis. As a non-IFRS measure, operating netback is an indicator of the financial performance of the Corporation. The Corporation uses such term as an indicator of financial performance because such term is commonly utilized by investors to evaluate companies in the energy sector. The Management of the Corporation believes that operating netback is a useful supplemental measure as it provides investors with information on operating margins per barrel of oil equivalent for such periods.Management calculates Adjusted funds flow from operations as net earnings (loss) plus the addition of non-cash items (depletion, depreciation, accretion, share-based compensation, gains or losses on the sale of property and equipment and unrealized gains or losses on risk management contracts, gain on dentures amendments, etc.) and settlement of decommissioning liabilities.  As a non-IFRS measure, these measures are an indicator of the financial performance as it demonstrates the Corporation’s ability to generate the cash necessary to fund future capital investments and to repay debt. The Corporation uses such term as an indicator of financial performance because such term is commonly utilized by investors to evaluate companies in the energy sector. The Corporation believes that these measures are a useful supplemental measure as it provides investors with information of what cash is available in such periods. Forward-Looking Statements: This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.More particularly and without limitation, this news release contains forward‐looking statements and information such as growing oil production should provide for better operating netbacks; the forecasted weak natural gas prices and whether or not resolving natural gas pipeline constraints will generate a significant change in natural gas prices. Although management of the Corporation believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Toronto Stock Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.About Toscana Energy Income Corporation Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets.For further information, please contact: Ryan Heath, Chief Executive Officer Tel: (403) 355-0455 Fax: (403) 444-0090 SOURCE: Toscana Energy Income Corporation

  • GlobeNewswire

    Toscana Energy Announces First Quarter 2020 Results

    CALGARY, Alberta, June 26, 2020 -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces financial and operating results for the first quarter.