EARNINGS / Pallister Energy reports 1st 3 months Results
CALGARY, April 21 /CNW/ - PALLISER ENERGY CORP., is pleased to announce
its financial and operating results for the year ended December 31, 1997.
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Three Months ended Year ended
December 31 December 31
1997 1996 1997 1996
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Revenue, net of ARTC &
Royalties $1,291,029 $1,046,869 $5,027,028 $3,317,938
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Cash Flow $341,821 $331,884 $1,762,782 $1,250,473
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Basic Per Share $0.03 $0.04 $0.18 $0.16
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Fully Diluted
Per Share $0.03 $0.04 $0.16 $0.14
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Net Income (Loss) ($25,978) $66,842 $163,650 $239,802
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Basic Per Share ($0.00) $0.01 $0.02 $0.03
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Fully Diluted
Per Share ($0.00) $0.01 $0.02 $0.03
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Production
Oil & NGLS (BBLS/D) 468 200 406 174
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Natural Gas (MCF/D) 4,125 3,825 3,995 3,690
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Average No. of Shares
Outstanding
Basic 10,023,940 8,081,157 9,955,023 9,855,773
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Fully Diluted 10,783,440 9,307,293 10,805,523 10,598,023
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- For the year ending December 31, 1997, revenues increased by 51.5% to
$5,027,028 (1996 - $3,317,938).
- Cash flow from operations increased by 41.0% to $1,762,782, being 18
cents per share (1996 - $1,250,473 or 16 cents per share).
- Net Income for the year was $163,650 being 2 cents per share. (1996 -
$239,802 or 2 cents per share.)
- Oil and Natural Gas Liquids sales increased by 133.3% to 406 barrels of
oil per day (1996 - 174 barrels of oil per day).
- Sales of natural gas increased by 8.3% to 3,995 MCF/D (1996 - 3,695
MCF/D).
- Gross capital expenditures before dispositions for the twelve months
amounted to $7,740,808 (1996 - $6,214,143).
- Palliser Energy Corp. is an oil and gas exploration and production
company operating in Western Canada. |
