CABRE reports first half fiscal 1995 results.CALGARY, Alberta--(BUSINESS WIRE)--Feb. 28, 1995--CABRE EXPLORATION LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CBE CBE Commander of the Order of the British Empire (a Brit. title) CBE n abbr (= Companion of (the Order of) the British Empire) → título de nobleza CBE n abbr (= ) Cabre Exploration Ltd. reports that for the six months ending January 31, 1995 revenue rose 24 percent from $25,808,000 in fiscal 1994 to $31,883,000. Earnings and earnings per share were unchanged at $4,856,000 ($0.30 per share). Cash flow rose 16 percent from $18,062,000 ($1.11 per share) to $21,040,000 ($1.28 per share; 1.24 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. ). The average oil price was up from $16.20 a barrel a year earlier to $19.84 but gas prices fell from $1.95 per thousand cubic feet to $1.61. At January 31, 16,410,957 shares were outstanding. Our active capital program increased debt, net of working capital, to $61.8 million. Debt levels are expected to decline in the second half. Average daily oil production for the six months rose to 8,200 barrels, up 21 percent from 6,800 barrels in the prior year. Gas sales were up seven percent from 28.0 million cubic feet daily to 29.9 million. Due to low spot gas prices the Company has shut in its non drainage, interruptible gas production approximating 8 million cubic feet per day. In the second fiscal quarter daily oil and gas sales were approximately 8,500 barrels and 32.4 million cubic feet respectively. The Company participated in 94 (44.4 net) wells including 48 (24.1 net) oil and 30 (10.1 net) gas, for a 77.7 percent success rate. Cabre expects to participate in about 150 wells during the current year. Occidental oc·ci·den·tal or Oc·ci·den·tal adj. Of or relating to the countries of the Occident or their peoples or cultures; western. n. A native or inhabitant of an Occidental country; a westerner. Noun 1. of California, operator of the 430,000 acre Esh El Mallaha concession onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. Egypt, plans to commence drilling the second earning well in April. Cabre retains a 15% working interest and bears no cost in this well. Cabre appears to be on track to achieve record financial and operating results in fiscal 1995. CONTACT: Harry B. Wheeler, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. or J. Douglas Kay, President and COO (403) 231-8800 (403) 263-4852 (FAX) |
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