09:56 AM EST - Ironhorse Oil & Gas Inc. : Announced its financial and operating results for the three months ended March 31, 2016. Despite significantly lower operating netbacks and production for Q1 2016, negative funds from operations improved 9% to $131,000 compared to negative funds of $144,000 for Q4 2015 which included $270,000 in takeover bid costs recorded. The Company realized a net loss of $144,000 for the first quarter, reflective of higher general and administrative costs incurred resulting from the expired unsolicited takeover bid by 1927297 Alberta Ltd. and lower revenues triggered by reduced production and persistent declining commodity prices. Ironhorse Oil & Gas Inc.
shares V. IOG are trading down $0.005 at $0.12.
