Beau Canada Announces Acquisition And Upward Revision To 1997 Numbers.CALGARY, Alberta--(BUSINESS WIRE)--Jan. 24, 1997--Beau Canada Explorat (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME:BAU BAU Business As Usual BAU Bangladesh Agricultural University BAU Beirut Arab University (Lebanon) BAU Behavioral Analysis Unit (FBI NCAVC) BAU Al-Balqa' Applied University (Jordan) .) Beau Canada is pleased to announce the purchase of Siding Resources from PanCanadian Petroleum Limited. The properties owned by Siding are currently producing approximately 600 BOE/day and are located in Beau Canada's core areas of Gilby, Twining twine v. twined, twin·ing, twines v.tr. 1. To twist together (threads, for example); intertwine. 2. To form by twisting, intertwining, or interlacing. 3. and Bantry. In addition to the purchase of these properties, Beau Canada has entered into a farm-in agreement with PanCanadian. The farm-in encompasses 43 sections in the Medicine Hat area and 6 sections of land in the Gilby area, both core areas for Beau Canada. Extensive drilling is anticipated on these blocks over the next 2 years. As a result of the acquisition and further upward revisions to drilling plans for 1997, Beau Canada expects significant increases in production and cash flow for 1997. Cash flow is expected to increase to $60 million, a 43 percent increase over 1996, with cash flow per share also expected to increase by 40 percent to 70 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . These estimates are based on a WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) of $20.50/bbl. and gas prices at $1.65/mcf and are outlined in the following table: -0-
1996 1997 1997 Percent Increase
(Estimate) (Original (Current 1996 Estimate to
Estimate) Estimate) 1997 Current
Cash Flow
$ Million $42 $52 $60 43 percent
$/share $0.50 $0.60 $0.70 40 percent
Production
Oil (bbls/day) 8,200 9,500 10,200 24 percent
Gas (mmcf/day) 61 75 78 28 percent
BOE (Day) 14,300 17,000 18,000 26 percent
Pricing Assumptions
Oil WTI
(US$/bbl.) $22.00 $19.50 $20.50
Wellhead
(C$/bbl.) $20.17 $19.45 $19.91
Gas
(wellhead
$/mcf) $1.48 $1.60 $1.65
The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and The Montreal Stock Exchange Montreal Stock Exchange See Bourse de Montreal, Inc. (Canadian Derivatives Exchange) have neither approved nor disapproved information contained herein. CONTACT: Beau Canada Exploration Ltd. Thomas F. Bugg, 403/750-3400 Robert N. Waldner, 403/750-3400 Michael J. Lang, 403/750-3400 |
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