CDNX Status Change / High Plains Energy
Current Share Price $0.60
CDNX SYMBOL: HYE
APRIL 4, 2002 - 15:16 EST
High Plains Energy Inc.: Graduation to Tier 1 Status on
The Canadian Venture Exchange
CALGARY, ALBERTA--High Plains Energy Inc., "the Corporation", listed on the CDNX as "HYE", has announced that effective April 4,2002 the Corporation's application for graduation from TIER 2 to TIER 1 status has been accepted, has been confirmed by the Canadian Venture Exchange and its classification has been changed to TIER 1.
The following are excerpts from its 2001 Annual Report:
* 38% INCREASE IN CASH FLOW TO $973,337,
* 27% INCREASE IN NET INCOME TO $773,128,
* 39,942 NET HECTARES DEVELOPED AND UNDEVELOPED ACREAGE IN CANADA AND U.S.
* $1.53 ASSET VALUE PER SHARE (CONSIDERS $5,897,000 10% DCF VALUE FOR PROVED PRODUCING RESERVES AND BALANCE SHEET NET ASSETS ONLY, NO VALUE INCLUDED FOR PROVEN NON-PRODUCING, PROVEN UNDEVELOPED NOR PROBABLE RESERVES)
* 2,450,000 BOE PROVEN AND PROBABLE CONSOLIDATED RESERVES (CANADA AND THE U.S.)
* SIGNIFICANT JURASSIC SAWTOOTH GAS TEST IN MONTANA (4.1MMCFD) |
