Corridor Resources Inc. (T:CDH*CA)

Business Focus: Oil & Gas Exploration and Production

Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: 5475 Spring Garden Rd Suite 301
Tel: N/A
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 nine months ended 30 September 2019, Corridor Resources Inc. revenues decreased 47% to C$6.8M. Net income totaled C$1.4M vs. loss of C$6.4M. Revenues reflect Revenues decrease of 48% to C$7M. Net Income reflects Impairment losses decrease from C$11.4M (expense) to C$0K, Depreciation decrease of 9% to C$3.3M (expense), Interest and other income increase of 35% to C$850K (income).
Employees: 10 as of Dec 31, 2016
Reporting Currency: Canadian Dollars
Enterprise value: $56.09M as of Sep 30, 2019
Annual revenue (TTM): $10.27M as of Sep 30, 2019
EBITDA (TTM): $4.06M as of Sep 30, 2019
Net annual income (TTM): $7.47M as of Sep 30, 2019
Free cash flow (TTM): $7.96M as of Sep 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 88,147,000 as of Sep 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization