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Tourmaline Oil Q2 Earnings Fall 65% YoY

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Tourmaline Oil (TOU.TO) said Thursday that Q2 net earnings fell 65% to C$0.47 per share, from C$1.35 per share, in the prior year period.

Analysts polled by FactSet had expected C$0.86 per share.

Total revenue edged down 1% to C$1.49 billion, over the same period, missing the C$1.55 billion forecast.

Tourmaline said its chief financial officer Brian Robinson will retire Nov. 1. Jamie Heard, currently vice president of capital markets, will succeed Robinson as chief financial officer.

The company will pay a quarterly base dividend of C$0.50 per share on Sept. 29, to shareholders of record on Sept. 15.

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