May 11, 2018 / 9:57 PM / 3 months ago

BRIEF-Yuma Energy Says Actively Seeking Strategic Alternatives

May 11 (Reuters) - Yuma Energy Inc:

* YUMA ENERGY, INC. ANNOUNCES IT IS ACTIVELY SEEKING STRATEGIC ALTERNATIVES, PROVIDES AN UPDATE TO ITS LIQUIDITY AND OPERATIONS, AND REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS

* YUMA ENERGY- STRATEGIC ALTERNATIVES MAY INCLUDE A BUSINESS COMBINATION, A MERGER, SALE OF ASSETS & POSSIBLE CAPITAL MARKET TRANSACTIONS

* YUMA ENERGY INC - TO THOROUGHLY EVALUATE ALL OPPORTUNITIES AND THIRD-PARTY PROPOSALS, IF ANY

* YUMA ENERGY - AT MARCH 31, CO NOT IN COMPLIANCE WITH ITS TOTAL DEBT TO EBITDAX COVENANT FOR TRAILING FOUR QUARTER PERIOD UNDER ITS CREDIT FACILITY

* YUMA ENERGY - CURRENTLY ANTICIPATES NON-COMPLIANCE WITH VARIOUS FINANCIAL COVENANTS AT JUNE 30, 2018

* YUMA ENERGY INC - QTRLY TOTAL PRODUCTION VOLUMES 177,973 BOE VERSUS 259,776 BOE

* YUMA ENERGY INC - SIGNIFICANT RISKS AND UNCERTAINTIES RAISE SUBSTANTIAL DOUBT ABOUT COMPANY’S ABILITY TO CONTINUE AS A GOING CONCERN

* YUMA ENERGY INC - QTRLY TOTAL REVENUES $5.6 MILLION VERSUS $7.1 MILLION

* YUMA ENERGY INC - QTRLY LOSS PER SHARE $0.16

* YUMA ENERGY - STRATEGIC ALTERNATIVES MAY INCLUDE, BUT ARE NOT LIMITED TO, REDUCING OR ELIMINATING CAPITAL EXPENDITURES PREVIOUSLY PLANNED FOR 2018

* YUMA ENERGY - STRATEGIC ALTERNATIVES MAY INCLUDE ENTERING INTO COMMODITY DERIVATIVES FOR A SIGNIFICANT PORTION OF ITS ANTICIPATED PRODUCTION FOR 2018 Source text for Eikon: Further company coverage:

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