Exall Energy Corporation announced earnings and operating results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported gross revenue of $9,999,000 against $7,060,000 a year ago. Funds from operations were $2,893,000 or $0.01 diluted per share against $3,291,000 or $0.05 basic and diluted per share a year ago. Net loss was $373,000 or $0.01 basic and diluted per share against net income of $588,000 or $0.01 basic and diluted per share a year ago. Capital expenditures, net were $221,000 against $7,051,000 a year ago. Cash flow from operations was $2,893,000. Net corporate debt reduction was $2,280,000. Oil and gas exploration and development expenditures were $162 for the third quarter of 2013.

For the nine months, the company reported gross revenue of $28,956,000 against $23,458,000 a year ago. Funds from operations were $11,375,000 or $0.05 diluted per share against $11,707,000 or $0.19 basic and diluted per share a year ago. Net income was $874,000 or $0.01 basic and diluted per share against net income of $2,862,000 or $0.05 basic and diluted per share a year ago. Capital expenditures, net were $8,080,000 against $39,960,000 a year ago. Oil and gas exploration and development expenditures were $8,127 for the nine months ended September 30, 2013.

For the quarter, the company reported total daily production of 1,116 barrels of oil equivalent per day against 991 barrels of oil equivalent per day a year ago, a 13% increase.

For the nine months, the company reported total daily production of 1,193 barrels of oil equivalent per day against 1,072 barrels of oil equivalent per day a year ago.

The company provided capital expenditures guidance for the fourth quarter of 2013 and first quarter of 2014. Capital expenditures planned for the third quarter were largely postponed due to the ongoing process of restructuring the senior debt of the company to comply with the desire of the senior lender to reduce their outstanding principal amount. Capital expenditures through fourth quarter of 2013 and first quarter of 2014 will focus on the ‘low-hanging fruit' (LHF) opportunities. Initial planned drilling activities, which were commence in October, are two sidetrack wells of wells in the North Waterflood which were drilled and completed in first quarter of 2013.