2nd Quarter Results are out, Still think this is going to 10 bucks a share.
biz.yahoo.com
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Double Eagle Reports 94% Increase in Revenue
CASPER, Wyo., April 16 /PRNewswire/ -- Double Eagle Petroleum Co. (Nasdaq: DBLE - news, DBLEW - news) reported
financial results for the three months ended February 28, 2001, which constitutes the Company's second fiscal quarter. Total
revenue rose to $794,516 compared with total revenues of $418,426 for the comparable three-month period in fiscal year 2000.
The increase in revenues was attributable to an increase in oil and gas sales to $791,720 from $405,495, consisting of a decrease
of two percent in production volumes and an increase in prices for natural gas and oil from $2.64 to $6.61 per mcfe. Six-month
figures showed an increase in revenues to $1,407,750 compared to $724,849 for the same period last year, with oil and gas sales
increasing to $1,404,862 over the comparable period sales of $707,514. The Company saw a decrease in production due to wells
being shut-in for additional work. Also for the second quarter ended February 28, 2001, the Company reported a profit of
$119,085, or $.02 per share, versus a loss of $31,433, or $.01 per share, for the 2000 comparable period. For the six month period,
the Company reported earnings of $307,515, or $.06 per share, versus a loss of $26,810, or $.01 per share, for the 2000
comparable period. As of February 2001, natural gas constituted 80% of the Company's daily production. |
