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STATEMENTS OF PROFIT (LOSS) AND COMPREHENSIVE INCOME (LOSS) - CAD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
REVENUES    
Petroleum and natural gas sales $ 243,825 $ 220,124
Royalties (23,961) (18,636)
Other income 5,574 7,750
Total revenues net of royalties 225,438 209,238
Realized gain on commodity contracts (note 17) 31,324 19,892
Unrealized gain (loss) on commodity contracts (note 17) 45,238 (29,525)
Revenues net of royalties and commodity contracts 302,000 199,605
EXPENSES    
Production 111,816 113,589
Transportation 23,549 12,108
General and administrative 29,377 19,919
Loss on marketable securities 461 678
Share-based compensation (note 12) 532 3,784
Depletion and depreciation (note 7) 120,652 136,518
Impairment (reversal) (note 7) 13,150 (264,000)
Loss (gain) on dispositions (note 7) 56,672 170,667
Expenses 356,209 193,263
NET PROFIT (LOSS) BEFORE FINANCE AND TAXES (54,209) 6,342
Finance expenses (note 14) 39,240 48,063
Realized (gain) loss on foreign exchange (note 15) 797 (277)
Unrealized foreign exchange (gain) loss (18,298) (7,918)
NET PROFIT (LOSS) BEFORE TAXES (75,948) (33,526)
TAXES    
Deferred tax expense (recovery) (note 13) 15,415 (6,858)
NET PROFIT (LOSS) AND COMPREHENSIVE INCOME (LOSS) $ (91,363) $ (26,668)
Net profit (loss) per share (note 16)    
Basic (in dollars per share) $ (1.85) $ (0.62)
Diluted (in dollars per share) $ (1.85) $ (0.62)