Canadian Superior Energy falls into red in Q2, loses $1.5M as sales climb

Canadian Superior Energy falls into red in Q2, loses $1.5M as sales climb THE CANADIAN PRESS CALGARY - Canadian Superior Energy Inc. (TSX:SNG) tumbled to a $1.5 million loss during the second quarter as it put more money towards capital expenditures. The energy company said Friday that losses were worth one cent per share for the period ended June 30. That's off from a profit of $2.2 million or two cents share in the same quarter last year. Sales rose to $24.8 million from nearly $12 million. Average daily production was up 48 per cent to 3,870 barrels of oil equivalent per day in the quarter. Canadian Superior also said it was waiting for final approval from the local government for offshore exploration licenses in Tunisia and Libya. Meanwhile, in Trinidad and Tobago, it plans to mobilize a rig to begin operations on the... [read full story]