Forza Petroleum Stock Price, News & Analysis
ORXPF
OTC
Company Description
Forza Petroleum Limited is an international oil exploration, development, and production company based in Calgary, Alberta. With a 65% working interest in the Hawler license area in the Kurdistan Region of Iraq, the corporation has made significant oil discoveries in four areas. Recent financial results, including a loss of $1.6 million in Q3 2023, reflect challenges from the continuing shutdown of the Kurdistan Oil Export Pipeline. The corporation's liquidity is being sustained through local oil sales and cost-cutting measures while awaiting clarity on the pipeline's reopening.
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Frequently Asked Questions
What is Forza Petroleum Limited?
Forza Petroleum is an international oil exploration, development, and production company with a 65% working interest in the Hawler license area in the Kurdistan Region of Iraq.
What were the financial results of Forza Petroleum in Q3 2023?
Forza Petroleum reported a loss of $1.6 million in Q3 2023, primarily due to decreased net revenue from lower sales volumes and realized sales prices.
How is Forza Petroleum managing its liquidity challenges?
Forza Petroleum is sustaining liquidity through local oil sales and cost-cutting measures while waiting for the Kurdistan Oil Export Pipeline to reopen.
What are some of the recent operational challenges faced by Forza Petroleum?
Forza Petroleum continues to experience challenges due to the shutdown of the Kurdistan Oil Export Pipeline, impacting sales volumes and revenue.
Where is Forza Petroleum headquartered?
Forza Petroleum is headquartered in Calgary, Alberta, Canada.