Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (9574)	2/18/2003 11:22:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

Richard / Devlan Exploration I extracted the below from their January 13th news release. Both cash flow and Capex is mentioned. These exceptional results coupled with extraordinary commodity prices(current posted natural gas prices are $6.48 per mcf AECO and posted oil prices are $48.15 per bbl Edmonton sweet), will have an anticipated increase of 22% on the Corporation's projected cash-flows. As a result capital expenditures budgeted for 2003 have been increased by 22% or $2.6 million dollars, allowing management to accelerate Devlan's long term drilling program. With an unprecedented undeveloped land base the Corporation continues to be proactive, by maintaining an inventory of drillable prospects ready for such an opportunity. I just took a quick glimpse thru the previous news releases and couldn't find any prior mention of their 2003 Capex. In doing the math, it would appear that they originally planned a Capex of $12.0 million. If you take the number of $12 million and X it by .22, it amounts to $2.6 million. If that's correct, 2003 Capex would amount to $14.6 million. I think the possible answer is that they were in the process of increasing the Capex when you talked to them and you might of been given a conservative estimate in the $13.6 million quote. Anyways, early Monday - I fired an email to them to clarify a few things and capex/cash flow were two of them. I'll let you know when they reply. In the meantime, I will check out their web-site to see if I can find any reference to this subject.