Canadian issues that are moving on early news.
MDC Partners Inc., which fell 1.5 per cent and closer to year lows Monday, said consolidated revenue for the second quarter of 2012 was $274.1-million (U.S.), an increase of 15 per cent compared with $238.0-million in the second quarter of 2011. Loss attributable to MDC Partners was $20.1-million compared with income of $1.3-million. Diluted loss per share from continuing operations attributable to MDC Partners common shareholders was $0.60 compared with income of $0.05 per share in the same period of 2011.
20-20 Technologies Inc. announced that it has entered into a definitive arrangement agreement to be acquired by an affiliate controlled by Vector Capital Corporation, a global private equity firm specializing in the technology sector, for $4 in cash per share.
Petroamerica Oil Corp. announced the results of its Las Maracas-3 well drilled on the Los Ocarros Block in the Llanos Basin of Colombia. The well has successfully proven the value of Petroamerica's Las Maracas Mirador Formation oil discovery, and also produced light oil from a new deeper reservoir, the Gacheta Formation, at rates of 1,491 barrels of oil per day.
Stream Oil & Gas Ltd., which fell more than 4 per cent on Monday, saw revenue increase by 78 per cent to $8.0-million for the second quarter of 2012, compared with $4.5-million for the corresponding period in 2011. Net operating income increased to $6.6-million from $2.8-million during the corresponding period in 2011.
Porto Energy Corp., which is trading at year lows, recorded net losses of $1.51-million (U.S.) for the three-month period ending May 31, 2012, compared with $2.18-million for the comparative period in 2011. As the company is in the exploration phase of operations, there are currently no oil and natural gas producing properties generating revenues.
Coalspur Mines Ltd., which gained nearly 7 per cent on Monday, presented its quarterly report for the three-month period ending June 30, 2012.
Sonoro Energy Ltd. announced the closing of a rig purchase, provided an updated investor presentation, announced the sale of de-asphalting technology and provided details of option grants.
Reliance Resources Ltd. announced the resignation of Scott Emerson and Nick Demare as directors of the company, and the resignation of Scott Emerson as president.