March 25 - Canada's Crocotta Energy Inc (CTA.TO) swung to a fourth-quarter profit, as stabilizing commodity prices propped up oil and gas revenue.
The oil and natural gas company posted net income of C$3.3 million, or 5 Canadian cents a share, compared with a loss of C$2.5 million, or 7 Canadian cents a share, a year ago.
Oil and natural gas sales rose 39 percent to C$12.1 million.
Analysts on average were expecting a loss of 5 Canadian cents a share, on revenue of C$13.5 million, according to Thomson Reuters I/B/E/S.
Oil and liquids price rose to C$66.58 from C$54.00 a barrel and daily production rose by 53 percent to 1,140 barrels.
The Calgary, Alberta-based company's shares closed at C$1.33 Wednesday on the Toronto Stock Exchange.
The oil and natural gas company posted net income of C$3.3 million, or 5 Canadian cents a share, compared with a loss of C$2.5 million, or 7 Canadian cents a share, a year ago.
Oil and natural gas sales rose 39 percent to C$12.1 million.
Analysts on average were expecting a loss of 5 Canadian cents a share, on revenue of C$13.5 million, according to Thomson Reuters I/B/E/S.
Oil and liquids price rose to C$66.58 from C$54.00 a barrel and daily production rose by 53 percent to 1,140 barrels.
The Calgary, Alberta-based company's shares closed at C$1.33 Wednesday on the Toronto Stock Exchange.
