Brigdon Triples Reserves/Continues Strong Growth.CALGARY, Alberta--(BUSINESS WIRE)--July 10, 1996-- (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : BRG BRG Bridge BRG Bearing BRG Bundesrealgymnasium (German: state secondary school) BRG Bureau des Ressources Genetiques (France) BRG Business Relations Group BRG British Racing Green BRG Best Regards .A ) Brigdon Resources Inc. of Calgary today released its operating and financial results for the year ended March 31, 1996. As compared to fiscal 1995, revenue increased by 50 percent, cash flow by 42 percent and net earnings by 39 percent. Proved and probable oil and gas reserves tripled from 13.6 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter equivalent to 40.4 BCF equivalent, on capital expenditures of $3.6 million. -0-
Years Ended March 31
Percent
1996 1995 Increase
---------------------------------
Revenue $3,258,000 $2,179,000 + 50 Cash Flow $1,809,000 $1,270,000 + 42 Cash Flow Per Share (Basic) $ 0.16 $ 0.13 + 23 Net Earnings $1,085,000 $ 782,000 + 39 Net Earnings Per Share (Basic) $ 0.09 $ 0.08 + 13 Average Daily Sales (Mcf equivalent) 5904 3495 + 69 Reserves (BCF equivalent) 40.4 13.6 +197 -0- During the year, Brigdon increased its interest in the wells, facilities and leases at its Buffalo Lake Buffalo Lake may refer to: Cities, towns, townships etc.
In Canada:
The gas field was shut-in for approximately three weeks in June for a rebuild of Red Willow Noun 1. red willow - Eurasian osier having reddish or purple twigs and bark rich in tannin basket willow, purple osier, purple willow, Salix purpurea, red osier plant facilities. This project was recently completed in conjunction with a three kilometer kilometer one thousand (103) meters; 3280.83 feet; five-eighths of a mile; abbreviated km. pipeline. The Red Willow plant is now operating at maximum compression capacity, processing 9,000 Mcf per day net to Brigdon. The company will drill three to five wells over the summer and plans to start production at a second plant (Buffalo Lake) in early August. This plant will enable Brigdon to process an additional 5,000 Mcf per day. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has not reviewed and does not accept responsibility for the adequacy or accuracy of this Press Release. CONTACT: Brigdon Resources Inc. J. Phillip Piffer President 403/266-4421 |
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