Exall Energy Corporation reported earnings and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company's gross revenue was $6,894,000 compared to $9,204,000 for the same period of last year. Funds from operations was $757,000 or $0.00 per diluted share compared to $3,458,000 or $0.02 per diluted share for the same period of last year. Net loss was $882,000 or $0.01 per diluted share compared to net income of $351,000 or $0.00 per diluted share for the same period of last year. Capital expenditures, net, were $1,561,000 compared to $1,162,000 for the same period of last year. Cash flow from operations was $757,000.

For the six months, gross revenue was $15,010,000 compared to $18,957,000 for the same period of last year. Funds from operations was $2,716,000 or $0.02 per diluted share compared to $8,416,000 or $0.05 per diluted share for the same period of last year. Net loss was $2,049,000 or $0.03 per diluted share compared to net income of $1,247,000 or $0.0 per diluted share for the same period of last year. Capital expenditures, net, were $1,823,000 compared to $7,859,000 for the same period of last year. Cash flow from operations was $2,716,000.

For the quarter, the company reported crude oil of 709 bbl, natural gas liquids of 21 bbl, natural gas of 253 mmcf and total daily production of 772 boe at the 6:1 compared to crude oil of 1,084 bbl, natural gas liquids of 20 bbl, natural gas of 343 mmcf and total daily production of 1,084 boe at the 6:1 reported a year ago. The company's production for the quarter was a 34% decrease from the same period in 2013. This decrease was primarily the result of well workovers and turnaround shut in at the Exall battery, as well as the connected oil and gas handling facilities. Production was also negatively affected by shut in of producing wells due to AER mandated pressure surveys and water injection well downtime due to workovers and a metering error. All of the operating wells are back on production or injection and production is coming back to pre-shut in levels.

For the six months, the company reported crude oil of 797 bbl, natural gas liquids of 22 bbl, natural gas of 286 mmcf and total daily production of 866 boe at the 6:1 compared to crude oil of 1,150 bbl, natural gas liquids of 20 bbl, natural gas of 368 mmcf and total daily production of 1,232 boe at the 6:1 reported a year ago. Production was a 30% decrease from the same period in 2013. These decreases were primarily the result of well cleanout operations performed during the first quarter of 2014, casing gas compressor issues resulting from the severe cold weather experienced during the first quarter of 2014 and the battery maintenance and well build up reporting requirements for the AER that were performed during the second quarter of 2014, which resulted in three weeks of lost production time.