ORIONS Money Stocks

[Lady-baron]

DEJ $730,000 Net Income for Q2 2014
33% Increase in Daily Production, 56% Reduction in Secured Debt


Other Key Financial and Operating Highlights are:

Refinanced the Kokopelli project in Colorado by creating a joint venture involving the transfer of 65% of the Company’s working interest in the initial 4 wells drilled in 2013, together with certain related production facilities, for $4,136,000 (US$3,876,000) cash;

Retaining a 25% working interest in the Kokopelli project and being carried for 25% of the next US$16.0 million in project development expenditures planned for 2014;

Reduced G&A per BOE by 31% from $22.19/boe for the three months ended June 30, 2013 to $15.24/BOE for the current quarter;

Repaid $3.5 million in secured debt;

Removed, with the concurrence of the Company’s auditors, all “going concern risk” references in the Company’s unaudited financial statements and related Management’s Discussion & Analysis for the three and six months ended June 30, 2014.