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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Think4Yourself who wrote (3747)	8/23/2001 1:49:18 PM
From: Razorbak	Read Replies (1) of 206321

EEE Production & Cash Flow Second quarter 2001 production averaged 60.4 mmcf/d of sales gas and 1,999 b/d of crude oil and natural gas liquids to total 12,065 boe/d (natural gas converted at 6:1), compared to 84.3 mmcf/d of sales gas and 2,344 b/d of crude oil and natural gas or 16,394 boe/d during the second quarter 2000. Excluding the production volume from the properties divested to Hunt, the second quarter production volume of 11,300 boe/d is approximately the same as the first quarter 2001 production volume. In essence, the corporate production decline has been offset by production increases from the Olds property... [snip] The Company reported cash flow of $55.9 million for the six months ended June 30, 2001 up 426 percent from the $10.6 million reported for the same period in 2000. Cash flow for the second quarter of 2001 of $20.7 million was 279 percent higher than the $5.5 million reported in the second quarter of 2000. Net earnings of $7.2 million and $19.4 million for the three and six month periods respectively, were vast improvements from the losses posted during the same periods in 2000. Oil and gas revenues more than doubled to $107.1 million from $52.9 million during the first six months of 2001 compared to 2000. Natural gas revenue during the first half of 2001 was $92.7 million, up 154 percent from $36.5 million in 2000 due to the company realizing an average natural gas price of $7.74 per mcf during 2001 as compared to the hedge-restricted $2.24 per mcf received in 2000... Razor

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