| An SI Board Since June 1997 |
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| Emcee:
sPD
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Profit Magazine's June 1997 issue identifies Brigdon as the fastest growing energy company in its annual top 100 listings. All information which follows is from that issue.
"Calgary-based Brigdon Resources Inc. makes its debut on the PROFIT 100 this year at Number 7. The oil and gas exploration and production company enjoyed revenue growth of 3,150% over the last five years. Brigdon Resources, a stellar performer last year with revenues exceeding $8 million, is the Fastest-Growing Company in the Prairie provinces."
In 1996, it had a profit of over $1m. It has only 6 employees, each of whom have 20 years' experience in oil & gas.
The company is described as having an insatiable appetite for buying new exploration properties at every opportunity. All of its current properties are in the Buffalo Lake area of central Alberta (around Stettler). Brigdon now has 9 wells producing 9.3 mcf of gas a day and interests in 10 more. To increase its holdings, it recently bought 7,200 more acres at Buffalo Lake and 2,200 acres nearby. With a finding cost of less than $2 per barrel of oil equivalent, Brigdon's expenses are the lowest in the industry. To meet its goal of attracting the attention of investment analysts, it will drill 11 wells this year and continue its aggressive land acquisition strategy.
On January 21, there was a private placement of 220,000 flow through shares at $2.24 per share for proceeds before costs of $492,800.
The company has issued 12.5m shares which trade on the TSE as BRG.A. The shares hit a 52-week high of 2.50 in November and closed today at $1.50.
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