(VSI.A) VISTA MEETS OR SURPASSES ALL FINANCIAL TARGETS IN 1994.REGINA Regina (rĭjī`nə), city (1991 pop. 179,178), provincial capital, S Sask., Canada, on Wascana Creek. The city is the distribution and service center for one of the world's largest wheat-growing areas. , SK--(BUSINESS WIRE)--MARCH 31, 1995--VISTA INTERNATIONAL PE (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :VSI VSI Vinyl Siding Institute VSI Voltage Source Inverter VSI Virtual Switch Interface VSI Vertical Speed Indicator VSI Voluntary Separation Incentive VSI Virtual Socket Interface VSI Vision Systems International VSI Vertical Shaft Impactor .A ) Vista International Petroleums Ltd. of Regina, Saskatchewan is pleased to announce its financial and operating results for the year ended December 31, 1994. The company closed the year with the strongest standing ever in its corporate history. All financial targets were met and in many cases exceeded. -0-
1994 1994 1993
(actual) (forecasted) (actual)
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Gross revenue $6,146,461 $6,032,646 $3,931,146 Oil sales $5,589,748 $5,612,645 $3,509,724 Cashflow from operations $2,581,129 $2,134,613 $ 949,689 Net income $1,059,087 $ 711,702 $ 264,356 Earnings per share (basic) $0.15 $0.10 $0.05 Cashflow from operations per share (basic) $0.35 $0.30 $0.18 Outstanding share capital (end of year) 7,226,751 7,226,751 7,426,751 Production in barrels 267,386 273,432 178,384 Daily average oil production in barrels 733 744 489 Oil revenue generated by the company totalled $5.6 million up 60% from the $3.5 million generated in 1993. Increased sales lead A sales lead is the identity of a person or entity potentially interested in purchasing a product or service, and represents the first stage of a sales process. The lead may have a corporation or business associated with the person(s). to cash flow of $2.6 million as compared to $0.9 million a year ago, an increase of 172%. Earnings per share rose 200% to $0.15 per share as compared to $0.05 per share in 1993, a result of the improved cash flow Vista generated. A major contributor to the company's strong financial performance was its ability to reduce its lifting costs by 22%, on a per barrel basis, down from $10.68 in 1993 to $8.30 per barrel over the same period this year. The average price realized by Vista for its crude oil to the end of 1994 was $20.91 per barrel, an increase of 6% over the 1993 average price of $19.68. To help offset anticipated crude oil price drops over the winter months, Vista was able to lock in 43% of its crude oil production at approximately $25.50 Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. which translates to $23.75 per barrel at the wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. for Vista's better quality crudes. Vista International Petroleums Ltd. is an oil and gas exploration and development company based in the City of Regina. Vista's shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with the trading symbol Trading symbol See: Ticker symbol VSI.A. CONTACT: Nathan Hollick Regina, Sask. (306) 757-1515 (306) 525-9540 (FAX) |
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