Monthly Archives: March 2016

China Natural Resources could be delisted from NASDAQ

BVI-registered company China Natural Resources, Inc. announced that it has received a Nasdaq Stock Market deficiency notice informing that it is not compliant with the US$35mln market value of listed securities required for continued listing on the Nasdaq Capital Market. China Natural Resources did not meet the requirement, based upon the closing bid price of its common shares for the 30 consecutive business day measurement period.

The BVI corporation will be provided 180 calendar days to regain compliance, and if during the period its market value of listed securities closes at or above US$35mln for a minimum of ten consecutive business days, or it will be compliant with one of the alternative continued listing standards, the matter will be closed. In case China Natural Resources does not regain compliance or satisfy one of the alternative standards, its securities will be subject to be delisted from the Nasdaq Capital Market.

Currently the BVI company is evaluating business transactions that will enable it to achieve compliance with Nasdaq criteria.

Eco Atlantic Oil & Gas Ltd. reported financial results for Q4 and Year 2015

EOG Resources, Inc., an integrated oil and gas exploration company incorporated in the British Virgin Islands, announced financial results for the fourth quarter and full year 2015. For the fourth quarter, EOG Resources reported net loss of US$284.3mln, or US$0.52 per share, as compared to net income of US$444.6mln, or US$0.81 per share, for Q4 2014. For full year 2015, the company reported net loss of US$4.5 billion, or US$8.29 per share, as compared to net income of US$2.9 billion, or US$5.32 per share, for the previous year.

For the fourth quarter 2015, adjusted non-GAAP net loss was US$149.5mln, or US$0.27 per share, compared to adjusted non-GAAP net income of US$431.9mln, or US$0.79 per share, for the same period of 2014. For the full year 2015, adjusted non-GAAP net income for the full year 2015 was US$33.9mln, or US$0.06 per share, compared to non-GAAP net income of US$2.7 billion, or US$4.95 per share, for the full year 2014.

Company’s Chairman and CEO stated in his comments: “EOG’s performance was resilient in 2015 as oil and natural gas prices declined sharply… We achieved significant reductions in our finding and operating costs and substantially increased the size and the quality of our inventory, which further enhances our unique ability to create long-term shareholder value.”