EARNINGS / Tappit Resources Ltd. Announces 1997 Financial
Results
ASE SYMBOL: TPT
MARCH 9, 1998
REGINA, SASKATCHEWAN--Tappit Resources Ltd. announces its 1997
annual financial results:
/T/
Year ended December 31: 1997 1996 Change
(in percent)
Petroleum Sales $4,975,754 $4,294,250 16
Cashflow from operations $2,003,978 $2,418,248 -17
Cashflow per share $0.08 $0.11 -23
Net earnings ($254,433) $844,419
Net earnings per share ($0.01) $0.04
Capital expenditures $7,656,426 $5,737,701
Weighted average shares
outstanding 24,047,721 22,642,513
/T/
Average production during 1997 was 690 BOPD compared to 449 BOPD
in 1996. |
