Zodiac Exploration Inc. (TSXV:ZEX), an oil and gas exploration company, announced its results for the second financial quarter of 2012.
As quoted in the press release:
During the quarter, Zodiac incurred a net loss of $1.4 million and spent $4.6 million on capital expenditures. Capital expenditures were principally associated with the completion program for the 1-10 horizontal well and lease rentals.
As at March 31, 2012, Zodiac had $22.8 million in working capital.