Petrus Resources Ltd.

10:28 AM EST - Petrus Resources Ltd. : Reported financial and operating results for the three months ended December 31, 2019. During the fourth quarter of 2019, Petrus generated funds flow of $9.3 million, more than double the funds flow generated in the third quarter. Fourth-quarter average production included 1,834 bbl/d of light oil, which was a 47% increase from the third quarter. Total annual operating costs were 11% lower than 2018 at $4.25 per boe in 2019, which is the lowest in the Company's history (a 68% decrease since 2012). This marks the fourth consecutive year of operating cost reductions. The Company continues to focus on optimizing its cost structure, particularly in the Ferrier area, through facility ownership and control. Petrus Resources Ltd. shares T.PRQ are trading up $0.005 at $0.20.