Exall Energy Corporation announced earnings and production results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported gross revenue was $9.2 million against $7.79 million a year ago. Funds from operations were $3.46 million or $0.02 diluted per share against $4.29 million or $0.05 diluted per share a year ago. Net income before tax were $0.510 million or $0.0 diluted per share against $1.62 million or $0.02 diluted per share a year ago. Net income was $0.351 million or $0.0 diluted per share against $1.2 million or $0.02 diluted per share a year ago. Capital expenditure was $1.06 million against $4.82 million a year ago. A second quarter 2013 cash flow from operations was $3,458,000 and net corporate debt reduction was $2,361,000.

For the six months, the company reported gross revenue was $18.96 million against $16.4 million a year ago. Funds from operations were $8.48 million or $0.05 diluted per share against $8.42 million or $0.11 diluted per share a year ago. Net income before tax were $2.24 million or $0.01 diluted per share against $3.16 million or $0.04 diluted per share a year ago. Net income was $1.25 million or $0.01 diluted per share against $2.28 million or $0.04 diluted per share a year ago. Capital expenditure was $7.94 million against $33.02 million a year ago.

For the quarter, the company reported crude oil was 1,084 bbl against 1,004 bbl a year ago. Natural gas liquids were 20 bbl against 25 bbl a year ago. Natural gas was 343 mmcf against 464 mmcf a year ago. Total daily production was 1,161 boe @ 6:1 against 1,106 boe @ 6:1 a year ago. Netback per boe (6:1) was $45.34 against $55.70 a year ago. This was largely due to breakup and three well workovers during the period, including a pump change in one of the best wells in the Central Waterflood area.

For the six months, the company reported crude oil was 1,150 bbl against 1,004 bbl a year ago. Natural gas liquids were 20 bbl against 20 bbl a year ago. Natural gas was 368 mmcf against 531 mmcf a year ago. Total daily production was 1,232 boe @ 6:1 against 1,112 boe @ 6:1 a year ago. Netback per boe (6:1) was $49.74 against $53.78 a year ago.

For the third quarter, production from field estimates is 1,200 boe per day through July, 2013. Through continued vigilance the company is expected to maintain the level of production at 1,200 to 1,300 boe per day through the third quarter until renewed drilling is expected to add to volumes. The company estimated third quarter 2013 average daily production at August 13, 2013 is approximately 1,264 boepd.