Baytex Energy Ltd. Company Update.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--March 27, 1996--BAYTEX ENERGY LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : BTE.A BTE.B BTE.WT.A ) Baytex Energy Ltd. confirms that it has closed its previously announced Special Warrants issue receiving gross proceeds of $13,500,000. Baytex issued 1,800,000 Special Warrants to a syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism lead by Gordon Capital Corporation at $7.50 each which are convertible into one Class A Share of Baytex for no additional consideration. Other syndicate members were StephenAvenue Securities Inc. and Research Capital Corporation. The issuance of the Special Warrants and the Class A Shares are subject to regulatory approval. Further, Baytex Energy Ltd. of Calgary, announced financial results for the year ending December 31, 1995. Petroleum and natural gas revenues increased to $6,204,376 compared to $2,365,755 for the same period of 1994, a 162 percent increase. Net earnings for 1995 were $801,956 or $0.12 per basic Class A Share ($0.09 fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ) up 58 percent from 506,580 or $0.13 per basic Class A Share ($0.07 fully diluted) for the same period in 1994. Cash flow for 1995 was $3,139,356 or $0.48 per basic Class A Share ($0.35 fully diluted) up 139 percent from 1,312,180 or $0.33 per basic Class A Share ($0.19) for the corresponding period in 1994. Average production for 1995 was 1,138 boe compared to 340 boe in 1994 representing a 235 percent increase. Production during 1995 was comprised of 8,891 mcf/d of natural gas and 249 bbls/d of oil compared to 2,151 mcf/d and 125 bbls/d of oil in 1994. Baytex participated in the drilling of 51 wells in 1995, 27 of which were exploratory and 24 development. This resulted in 19 (16.04 net) gas wells, 14 (12.17 net) oil wells and 18 (14.92 net) dry and abandoned wells for an overall success rate of 65 percent (65 percent net). The Company's independently evaluated total proven and probable reserves at December 31, 1995 were 52.6 bcf of natural gas and 2.2 mmstb of oil and ngl's. Baytex is a junior oil and gas exploration company whose 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. and The Alberta Stock Exchange under the trading symbol Trading symbol See: Ticker symbol "BTE.A" and "BTE.B" and "BTE.WT.A". CONTACT: Baytex Energy Ltd. Bert Kloster, 403/750-1234 403/750-1244 (Fax) |
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