Zodiac Exploration Inc.
TSX VENTURE: ZEX
May 18, 2012
Zodiac Exploration Announces Release of Second Quarter Financial Results
CALGARY, ALBERTA – Zodiac Exploration Inc. (“Zodiac” or the “Company”) (TSX VENTURE:ZEX) announces that it has filed its financial statements and management’s discussion and analysis for the three and six month periods ended March 31, 2012 on SEDAR at www.sedar.com.
Highlights:
During the quarter, Zodiac incurred a net loss of $1.4 million and spent $4.6 million on capital expenditures. Capital expenditures were principally associated with the completion program for the 1-10 horizontal well and lease rentals.
As at March 31, 2012, Zodiac had $22.8 million in working capital.
About Zodiac
Zodiac is a Calgary based company formed to explore for and eventually develop and produce oil and gas assets in North America with a focus on the San Joaquin Basin in California. Zodiac has an accumulated land base of approximately 90,000 net acres in Kings and Kern Counties, California, USA. Zodiac believes that its acreage position contains unconventional (low permeability) as well as conventional light oil prospects.
For more information, please contact
Zodiac Exploration Inc.
Murray Rodgers
President & CEO
(403) 444-7844
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
