Anterra Energy, Inc. – TSX.V: AE.A and OTCQX: ATERF

Anterra is an independent, oil focused junior exploration and production company with an expanding presence in the Western Canadian Sedimentary Basin. The Company is actively engaged in the acquisition, development and production of oil and natural gas complemented by the operation of fee-based midstream facilities. Anterra is headquartered in Calgary, Alberta, is listed and trades on the TSX-V under the symbol “AE.A” and trades on OTCQX International under the symbol “ATERF”.

Here are two paragraphs from its financials press release issued on August 22nd:

Overall operational and financial results for the second quarter of 2013 were significantly impacted by the acquisition of Terrex Energy Inc. (“Terrex”) which closed on March 14, 2013. Sales volumes and oil and gas revenue for the second quarter of 2013 increased 71% and 82% respectively over the second quarter of 2012. Q2 2013 oil and gas revenue totaled $2.5 million on average daily sales volumes of 427 boe/d as compared to oil and gas revenue of $1.4 million on average sales volumes of 250 boe/d in Q2 2013. Total revenue for the second quarter, including midstream revenue, was $3.1 million as compared to $2.0 million in the second quarter of 2012. Revenue for the six months ended June 30, 2013, totaled $5.7 million as compared to $3.6 million for the six months ended June 30, 2012.

Higher than normal general and administrative and operating expenses were primarily responsible for a loss of $1.2 million reported for the second quarter. Significant, largely one-time costs associated with financing and acquisition activities, including regulatory reporting requirements contributed to high general and administrative expenses, and an extensive workover and well reactivation program added to operating costs. The loss of $0.2 million reported for the six months ended June 30, 2013, reflects the gain of $1.2 million recognized on the Terrex acquisition resulting from the estimated fair value of the net assets acquired being in excess of the consideration paid. The gain was recognized in the first quarter of 2013.

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