AMERICAN INTERNATL PETROLEUM CORP files 0930 qtr
10-Q.
IFN Smart Edgar News - November 10, 1997 19:07
%OPR %qtrrept AIPN V%IFN P%SMRT
Excerpted from 10-Q filed on 11/10 by AMERICAN INTERNATIONAL PETROLEUM CORP :
AMERICAN INTERNATL PETROLEUM CORP files 0930 qtr 10-Q. Reports $0.8 mil tot rev and $-0.32 EPS.
Results of Operations
For the Three Months Ended September 30, 1997 as compared
to the Three Months Ended September 30, 1996
The following table highlights the Company's results of operations for the three
months ended September 30, 1997 and 1996.
For The Three Months
Ended September 30,
1997 1996
Exploration and Production Activity:
Colombia Properties:
Revenues - Oil Sales (000's) (1) $301
Lease Operating Expenses (000's) (1) $180
Production Volume - Bbls (1) 25,971
Average Price per Bbl (1) $11.57
Production Cost per Bbl (1) $6.92
DD&A per Bbl (1) $3.77
Results of Operations
For the Nine Months Ended September 30, 1997 as compared
to the Nine Months Ended September 30, 1996
(End of Item Excerpt)
----------FINANCIAL DATA SCHEDULE--------
PERIOD-TYPE 3-MOS
FISCAL-YEAR-END DEC-31-1997
PERIOD-START JUL-01-1997
PERIOD-END SEP-30-1997
CASH 3,209,388
SECURITIES 2,565,246
RECEIVABLES 1,594,667
ALLOWANCES 0
INVENTORY 0
CURRENT-ASSETS 7,768,374
DEPRECIATION 4,150,005
TOTAL-ASSETS 32,788,108
CURRENT-LIABILITIES 5,686,720
BONDS 0
PREFERRED-MANDATORY 0
PREFERRED 0
COMMON 3,510,167
OTHER-SE 20,893,055
TOTAL-LIABILITY-AND-EQUITY 32,788,108
SALES 103,738
TOTAL-REVENUES 103,738
CGS 0
TOTAL-COSTS 0
OTHER-EXPENSES 1,141,521
LOSS-PROVISION 0
INTEREST-EXPENSE 3,583,757
INCOME-PRETAX (4,621,540)
INCOME-TAX 0
INCOME-CONTINUING 0
DISCONTINUED 0
EXTRAORDINARY 0
CHANGES 0
NET-INCOME (4,621,540)
EPS-PRIMARY (0.11)
EPS-DILUTED 0
PERIOD-TYPE 9-MOS
FISCAL-YEAR-END DEC-31-1997
PERIOD-START JAN-01-1997
PERIOD-END SEP-30-1997
CASH 3,209,388
SECURITIES 2,565,246
RECEIVABLES 1,594,667
ALLOWANCES 0
INVENTORY 0
CURRENT-ASSETS 7,768,374
DEPRECIATION 4,150,005
TOTAL-ASSETS 32,788,108
CURRENT-LIABILITIES 5,686,720
BONDS 0
PREFERRED-MANDATORY 0
PREFERRED 0
COMMON 3,510,167
OTHER-SE 20,893,055
TOTAL-LIABILITY-AND-EQUITY 32,788,108
SALES 260,579
TOTAL-REVENUES 895,373
CGS 98,765
TOTAL-COSTS 0
OTHER-EXPENSES 8,504,125
LOSS-PROVISION 0
INTEREST-EXPENSE 4,999,168
INCOME-PRETAX (12,706,685)
INCOME-TAX 0
INCOME-CONTINUING 0
DISCONTINUED 0
EXTRAORDINARY 0
CHANGES 0
NET-INCOME (12,706,685)
EPS-PRIMARY (0.32)
EPS-DILUTED 0
------------------------------------------------------------------------
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