Canop Reports on First Quarter Activity.CALGARY, Alberta--(BUSINESS WIRE)--Aug. 29, 1997--Canop (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CWC CWC Chemical Weapons Convention CWC Cricket World Cup CWC Central Wyoming College CWC Ceylon Workers' Congress (trade union; Sri Lanka) CWC Ceylon Workers Congress (Sri Lanka) .) Canop Worldwide Corp. made significant progress in its initial first quarter which ended June 30, 1997. During this period, the Company became fully operational and signed oil and gas exploration agreements for 15,000 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
Based on its 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. oil and gas production, Canop's sales were $82,301 for the three months ending June 30, 1997. The Company experienced a loss in net income of $466,001 ($0.03 per share) and a negative cash flow of $306,845 ($0.02 per share) for the same period. The losses are directly related to general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. of $504,312 and includes costs associated with the acquisition of Briggand Energy, initial corporate start-up Start-up The earliest stage of a new business venture. , acquiring additional property interests on its international holdings, and the stock exchange listing. As at June 30, the Company had $1.96 million in cash and no debt. Canop Worldwide Corp. is a Canadian oil and gas exploration company with the objective of developing international drilling and development opportunities utilizing its political, technical and financial expertise. Canop trades on the Alberta Stock Exchange under the symbol CWC. -0- This press release has neither been approved nor disapproved by The Alberta Stock Exchange. CONTACT: Canop Worldwide Corp. Ken King, 403/205-2526 403/263-3168 (FAX) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion