2015 Second Quarter Interim Report Management's Discussion & Analysis
The following Management’s Discussion and Analysis (“MD&A”) of financial condition and results of operations for Virginia Hills Oil Corp. (“Virginia Hills” or “the Company”) is dated August 13, 2015 and should be read in conjunction with the Company’s unaudited interim condensed consolidated financial statements and related notes for the period ended June 30, 2015, and the audited financial statements and related notes for the year ended December 31, 2014 of Pinecrest Energy Inc. (See Capital Reorganization). The unaudited interim consolidated financial statements have been prepared in Canadian dollars, in accordance with International Financial Reporting Standards (“IFRS”), specifically International Accounting Standard (“IAS”) 34, Interim Financial Reporting, in Canadian dollars, except where indicated otherwise. Tabular amounts are in thousands of dollars, oil and gas volumes, reserves and related performance measures are presented on a working-interest, before-royalties basis.
The unaudited interim condensed consolidated financial statements of Virginia Hills have been prepared by management and approved by the Company’s Board of Directors.