CALGARY, AB, May 30, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three months ended March 31, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended Mar. 31, 2025 and 2024 ("2025 Q1 Documents"). Financial and operating highlights for the period include:

   -- Achieved average corporate production of 1,636 boe/d compared to average 
      corporate production in Q4/24 of 1,624 boe/d. 
 
   -- First quarter of 2025, Fiddlehead's petroleum and natural gas sales 
      totaled $3,975,870 and Funds Flow used in Operations was $194,854. 

Readers are encouraged to read the 2025 Q1 Documents in their entirety, which are available on SEDAR+ at www.sedarplus.ca and on Fiddlehead's website at www.fiddleheadresources.com.

The table below summarizes selected highlights from the Company's financial and operating results:

(Expressed in $000s except per share, price and volume amounts.)

 
                      Three months ended 
                      March    December  March 
                      31       31        31 
                      2025     2024      2024 
OPERATING 
HIGHLIGHTS AND 
NETBACKS(1) 
Average 
production and 
sales volumes 
Light oil (bbls/d)        119       134       - 
NGLs (bbls/d)             394       378       - 
Natural gas (Mcf/d)     6,746     6,675       - 
Total (BOE/d)           1,636     1,624       - 
Average 
realized sales 
prices 
Light oil ($/bbl)       91.79     91.72       - 
NGLs ($/bbl)            49.32     55.39       - 
Natural gas ($/Mcf)      2.06      1.28       - 
Total oil equivalent 
 ($/BOE)                27.13     25.86       - 
Netbacks 
($/BOE)(1) 
Petroleum and 
 natural gas sales      27.13     25.86       - 
Royalties                6.65      6.67       - 
Operating expenses      11.65     11.25       - 
Transportation 
 expenses                0.10      0.09       - 
Operating Netback(1)     8.74      7.84       - 
General and 
 administrative 
 expenses                7.62      8.86       - 
Finance costs            6.27      4.98       - 
Adjusted Funds Flow 
 Netback(1,2)          (5.15)    (6.10)       - 
FINANCIAL 
HIGHLIGHTS 
Petroleum and 
 natural gas sales      3,976     3,844       - 
Petroleum and 
 natural gas sales, 
 net of royalties       2,996     2,846       - 
Net loss & 
 comprehensive loss   (2,497)   (2,295)   (138) 
Basic per share        (0.04)    (0.04)  (0.03) 
Diluted per share      (0.04)    (0.04)  (0.03) 
Cash flow used in 
 operating 
 activities             (145)     (812)   (146) 
Funds Flow from 
 Operations(2)          (195)      (74)   (127) 
Basic per share        (0.00)    (0.00)  (0.02) 
Diluted per share      (0.00)    (0.00)  (0.02) 
Acquisitions                -         -       - 
Total assets           30,054    31,714     245 
Total non-current 
 financial 
 liabilities           11,482    11,666       - 
Total long-term 
 debt, including 
 current portion       12,120    12,168       - 
Shareholders' equity    3,412     5,909     229 
Weighted average 
 common shares 
 outstanding (000s) 
 -- basic(3)           60,521    60,521   5,276 
Weighted average 
 common shares 
 outstanding (000s) 
 -- diluted(3)         60,521    60,521   5,276 
Common shares 
 outstanding (000s), 
 end of period(4)      60,521    60,521   5,276 
 
 
(1)  "Netbacks" are non-GAAP financial measure calculated 
      per unit of production. "Operating Netback", and "Adjusted 
      Funds Flow Netback" do not have standardized meanings 
      under IFRS Accounting Standards. See " Non-GAAP Financial 
      Measures " section 
(2)  "Funds Flow from Operations" ("FFO") does not have 
      a standardized meaning under IFRS Accounting Standards. 
      See "Non-GAAP Financial Measures". 
(3)  Common shares outstanding have been adjusted as a 
      result of the Share Consolidation. 
 

READER ADVISORIES

In this press release, all references to "$" are to Canadian dollars.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fiddlehead Resources Corp.

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/CONTACT:

For further information concerning Fiddlehead Resources Corp., please contact: Brent Osmond, Chief Executive Officer and Director, Email: Bosmond@fiddleheadresources.com

Copyright CNW Group 2025 
 

(END) Dow Jones Newswires

May 30, 2025 11:43 ET (15:43 GMT)