W and T Offshore Inc (WTI)

[legalizeMJ]

3/1/17 Positive earnings, good Q4 results:

http://ih.advfn.com/p.php?pid=nmona&article=73990249

Net Income (Loss) & Earnings (Loss) Per Share: We reported net income for the fourth quarter of 2016 of $16.5 million or $0.12 per common share. Excluding special items, our adjusted net income would have been $7.7 million or $0.06 per share. This compares to a fourth quarter of 2015 reported net loss of ($51.6) million, or ($0.68) per common share and excluding special items (including a ceiling test write-down of oil and natural gas properties) an adjusted net loss of ($30.5) million, or ($0.40) per share.

"We are as enthusiastic as ever about the opportunities in the Gulf of Mexico and believe we are in a good position to take advantage of this prolific basin. We are entering 2017 with a lower cost structure and a capital program of profitable projects that should allow us to build cash. We expect to benefit from improved seismic technologies, lower operating costs and less competition in the Gulf."

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