11:45 AM EST, 03/07/2024 (MT Newswires) -- Yangarra Resources Ltd. ( YGRAF ) reported Thursday an EPS of $0.12 in the fourth quarter of 2023, dropping year over year from $0.27.

Petroleum and natural gas sales sank to $33.7 million from $60.3 million.

For full-year 2023, Yangarra's EPS slid to $0.47 from $1.16 while sales dropped to $166.5 million from $243.1 million.

Yangarra said its primary goal in 2024 is to hit a debt target of $80 million and then focus on shareholder returns.

The company also outlined a year-end reserves report. Proved, developed and producing reserves climbed 45% year over year to 38.0 million barrels of oil equivalent (boe).

Total proved reserves increased 12% to 96.8 million boe and proved plus probable reserves grew 7% to 155.7 million boe.

Yangarra at last look lost 2.1% in early Thursday trading.

Price: 1.15, Change: -0.02, Percent Change: -2.14