SARA Q1 Results

[dan_s]

Results are below my forecast model. I will take a hard look at this one tonight. - Dan

Saratoga Resources, Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced financial and operating results for the quarter ended March 31, 2013.

Key Financial Results
• Oil and gas revenues of $19.26 million for Q1 2013 compared to $19.34 million for Q1 2012;
• Discretionary cash flow of $5.1 million, or $0.16 per fully diluted share, for Q1 2013 compared to discretionary cash flow of $5.8 million, or $0.21 per fully diluted share, for Q1 2012;
• EBITDAX of $9.9 million for Q1 2013 compared to $10.0 million for Q1 2012;
• Operating income of $3.7 million, or $0.12 per fully diluted share, for Q1 2013 compared to operating income of $2.5 million, or $0.09 per fully diluted share, for Q1 2012; and
• Net loss of $(1.1) million, or $(0.03) per fully diluted share, for Q1 2013 compared to net loss of ($1.2) million, or $(0.04) per fully diluted share, for Q1 2012.

[wilmawatts]

New Rocky well could be a game changer here. Drilled by July 1 with a 750 foot lateral. Kerr-McGee did this with four wells in the field in the 1990's and had very good results.

[wilmawatts]

Other production disruptions seem to be under control and have been addressed. We will see. $9 NAV

[dan_s]

I was tied up in our luncheon all day. Actually, it is a good sign that SARA held up today. I thought it would get hammered after I saw the earnings release this morning. I will get into the details soon and listen to the CC.

[wilmawatts]

Yeah, I even asked a question and learned a bit about GOM laterals and technology