EARNINGS / Pebercan inc. Reports 1997 Results
PEBERCAN INC.
ME SYMBOL: PBC
APRIL 17, 1998
Pebercan Inc Year End Results - December 31, 1997
MONTREAL, QUEBEC--Pebercan announces that for the fiscal year
ended December 31, 1997 the corporation incurred a net loss after
taxes of $480,259 ($0,02 per share) compared to a net income of
$508,369 ($0,02 per share) for the period from June 10, 1996 to
December 31, last year. In 1996, the Corporation generated
revenues of $2,224,538 form the gain realized on the disposition
of the shares held by the Corporation in Probe Exploration Inc.
The administrative expenses increased from $373,471 (7 months) to
$1,439,258. This change stemmed mostly from salaries for new
personnel hired during the year and marketing and traveling
expenses related to the promotion of the corporation and project .
The company decreased its liquidities by $6,483,633 during the
year. Although the compagny received $5,978,630 in cash through
the capital share issue, it had invested $9,200,829 for the
acquisition of a drilling rig and $5,822,549 in exploration and
seismic program.
The Board of Director wish to take this opportunity to thank all
shareholders for their support and confidence.
|
