Mr. Leonard Van Betuw reports

QUATTRO RELEASES 3RD QUARTER FINANCIALS REPORTING NET EARNINGS OF $0.01 PER SHARE

Quattro Exploration and Production Ltd. has filed its third quarter 2015 financial statements, reporting net earnings of one cent per share.

The company reported results for the three months ending Sept. 30, 2015, in the attached table.

Revenues                                                 $3,501,408 
Net income from operations, $11.70 per boe netback       $1,589,167 
Net earnings, after tax of one cent per share              $322,210   
Cash and equivalents                                    $12,840,218
Working capital                                          $6,663,023 
Net debt                                                 $2,651,087 

During the three months ended Sept. 30, 2015, Quattro's cash flow from operations was $908,778 and the company's EBITDA (earnings before interest, taxes, depreciation and amortization) was $1,082,788. Although a non-IFRS (international financial reporting standards) accounting term, the company believes EBITDA provides further guidance of funds flowing from operations for Quattro and provides investors an opportunity to understand the company's capacity to finance its operations and ability to continue to grow during times of volatility.

Production averaged 1,476 barrels of oil equivalent per day on a continuing restricted rate due to Quattro being required to shut in for periods from five to seven days in British Columbia and Alberta, with the exit rate at Sept. 30, 2015, recovering to 1,580 barrels of oil equivalent per day. In the third quarter, the corporation continued to reduce costs, with operating costs averaging $13.09 per barrel of oil equivalent, compared with $14.54 per barrel of oil equivalent in the second quarter, a 9-per-cent reduction during the quarter despite production being restricted.

"In the third quarter, we continued to focus on improving our operating performance," stated Leonard B. Van Betuw, president and chief executive officer of Quattro. "The company continued to transition from consulting services to full-time employees, with a goal of solidifying our corporate foundation and harnessing the resulting economies of scale anticipated in 2016."

The company's operating budget remains on track within what is anticipated to be a volatile period of two years for commodity prices, expecting trading to be in a range from WTI (West Texas Intermediate) $40 (U.S.) per barrel to $50 (U.S.) per barrel and natural gas prices of AECO $2.50 per thousand cubic feet to $3.50 per per thousand cubic feet until June, 2017. Quattro targets being a corporate revenue stream averaging $22.50 per barrel of oil equivalent, operating costs of $8 per barrel of oil equivalent, general and administrative of $1.50 per barrel of oil equivalent, and financing cost of 50 cents per barrel of oil equivalent, collectively driven to generate corporate netbacks of $12.50 per barrel of oil equivalent, based on a continuing cost control initiative and the realization of additional economies through the increased utilization of company-owned-and-operated gathering and processing facilities.