Dakota Resources Limited - Year end results
Tuesday Mar 10 1998
Mr Robert Bateman reviews the company
Through the year the company had mining interests in Bolivia, South
America and the Northwest Territories. Both ventures had some degree
of merit, but being capital intensive, management and the board made
a decision to pursue other interests that had greater opportunities
to increase shareholder value and to be financed. The company
considered several undertakings, but carefully decided to pursue the
acquisition of a petroleum service company. This marks the return of
the company to the petroleum industry where it has its roots.
STATEMENT OF EARNINGS
Year ended September 30
1997 1996
Revenue
Oil and gas $ 15,490 $ 58,275
Royalties (2,724) (19,141)
----------- -----------
12,766 39,134
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Expenses
Operating 1,899 18,819
General and
admin 44,126 54,622
Depletion and
depreciation 548 3,168
Loss on disposition
of petroleum and
natural gas
properties - 823
Loss (gain) on
foreign exchange 8,897 (9,626)
Loss on disposal
of mineral
properties 241,050 809,382
Writedown of
notes receivable - 240,802
----------- -----------
296,520 1,117,990
----------- -----------
Net loss $ (283,754) $(1,078,856)
=========== ===========
Net loss per
share $(0.017) $(0.067) |
