Tesla Exploration Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenue of $15,004,000 compared to $27,069,000 a year ago. Net loss was $15,256,000 compared to $2,437,000 a year ago. Basic loss per share was $0.70 compared to $0.11 a year ago. Adjusted LBITDA was $3,750,000 or $0.17 per basic share compared to adjusted EBITDA of $5,147,000 or $0.24 per basic share a year ago. Cash flows used in operations was $4,374,000 or $0.20 per basic share compared to cash flows from operations of $5,762,000 or $0.26 per basic share a year ago. Capital expenditures were $103,000 compared to $5,192,000 a year ago.

For the year, the company reported revenue of $89,623,000 compared to $132,132,000 a year ago. Net loss was $51,622,000 compared to $11,487,000 a year ago. Basic loss per share was $2.36 compared to $0.52 a year ago. Adjusted LBITDA was $2,414,000 or $0.11 per basic share compared to adjusted EBITDA of $11,718,000 or $0.53 per basic share a year ago. Cash flows used in operations was $2,712,000 or $0.54 per basic share compared to cash flows from operations of $11,960,000 or $0.54 per basic share a year ago. Capital expenditures were $1,499,000 compared to $27,985,000 a year ago.