EARNINGS / Ramarro Resources Inc. 1998 Year End Results
CALGARY, ALBERTA--Ramarro Resources Inc. announces the results for
the year ended September 30, 1998.
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YEAR ENDED SEPTEMBER 30
1998 1997
Revenue $2,512,966 $2,338,131
Cash generated from operations $914,332 $959,232
Cash flow per share $0.057 $0.080
Net earnings $17,981 $242,809
Per share $0.001 $0.020
Natural gas sales
Total (mmcf) 924.7 823.9
Daily (mmcf) 2.53 2.43
Average natural gas price per mcf $1.86 $1.78
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Ramarro exited fiscal 1998 with strong cash flow, increased
revenues and production volumes.
A further development drilling program of 10 wells at Cessford
North and 7 wells at Cessford came on stream immediately following
the year end.
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