3 mos Finacials: - looking very good...
These guys will still be comfortably profitable if energy prices drop.
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Neutrino Resources Inc NTO
Shares issued 24,760,701 Jun 18 close $1.40
Thu 19 Jun 97 Financial Statements
STATEMENT OF EARNINGS
Three months ended March 31
1997 1996
Revenues
Petroleum &
natural gas $4,550,820 $2,574,905
Royalties (954,391) (491,902)
Other 14,284 37,416
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3,610,713 2,120,419
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Expenses
Operating 983,168 949,366
Depletion &
depreciation 988,404 629,860
General & admin 425,075 246,778
Provision for
future site
restoration 142,725 121,806
Interest on
long term debt 118,366 63,226
---------- ----------
2,657,738 2,011,036
---------- ----------
Income from
operations 952,975 109,383
Equity income
from investments - 1,153
Loss on sale
of limited
partnerships - (69,805)
---------- ----------
- (68,652)
---------- ----------
Income before
income taxes 952,975 40,731
Provision for
income taxes (18,005) (30,626)
---------- ----------
Net income $ 934,970 $ 10,105
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