Simon / Tethys Energy Page 2
Summary of Operations and Financial Results
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Three Months Ended Six Months Ended
June 30 June 30
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% %
1997 1996 Change 1997 1996 Change
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Oil & Liquids (Bbl/d) 574 172 234% 608 180 238%
Gas (Mcf/d) 5,823 2,176 168% 5,819 2,306 152%
Barrels Equivalent
(BOE/d) 1,156 389 197% 1,190 411 190%
Revenue ($000's) 1,472 617 139% 3,080 1,150 168%
Capital additions
($000's) 3,975 417 853% 8,652 737 1,074%
Cash Flow ($000's) 725 270 169% 1,780 473 276%
Net Income ($000's) 51 109 (53%) 343 44 679%
Average Shares Outstanding
('000's) 16,234 7,200 125% 15,152 7,200 110%
Cash Flow ($/share) 0.05 0.04 25% 0.12 0.07 71%
Net Income ($/share) 0.00 0.02 N/M 0.02 0.01 100%
Working capital ($000's) (1,627) 187 N/M
Long term debt ($000's) 79 - N/M
Shareholders' equity
($000's) 15,985 4,998 219%
Oil and Liquids Price
($/Barrel) 16.51 11.79 40% 16.76 11.76 43%
Gas Price ($/Mcf) 1.64 1.58 4% 1.80 1.55 16%
Gas Hedging ($/Mcf) 0.00 0.97 N/M 0.00 0.62 N/M
Gas Price after Hedging
($/Mcf) 1.64 2.54 (35%) 1.80 2.17 (17%)
Netbacks ($/BOE)
Price 16.56 19.26 (14%) 17.46 17.07 2%
Net Royalty (2.73) (1.83) 49% (3.20) (1.79) 78%
Operating (4.83) (4.89) (1%) (4.11) (4.60) (11%)
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Operating Netback 9.00 12.54 (28%) 10.15 10.68 (5%)
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Administration/Corporate (2.19) (4.97) (56%) (1.89) (4.42) (57%)
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Corporate Netback 6.81 7.57 (10%) 8.27 6.27 32%
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