Centurion Energy International: Q1 Results On Course For Another Record Year.Business Editors 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)--May 26, 2000 Centurion Energy International Inc (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CUX CUX Corporate University Xchange (provides education research, benchmarking and advisory services to corporate America) .) is pleased to announce results for the quarter ended March 31, 2000. Earnings and cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses put the company on course for another record year. Activities in Tunisia Tunisia (t  nē`zhə, ty–), Fr. Tunisie, officially Republic of Tunisia, republic (2005 est. pop. for the first quarter focused on getting the Plan
of Development (POD) for our Al Manzah field and the El Biban power
project approved by Government agencies and the POD for the El Wastani
gas field in Egypt approved by authorities there.Cash flow for Q1/2000 was $4.2 million ($0.07 per share, 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. ) compared to $1.1 million ($0.02 per share, fully diluted) for Q1/1999. Net earnings for Q1/2000 were $2.1 million ($0.03 per share, fully diluted) compared to a net loss of $0.3 million (loss $0.01 per share, fully diluted) for Q1/99. The improved results in Q1/2000 were attributable to much higher oil prices. Our net back per barrel was $26.89 compared to $9.08 in Q1/99.
FINANCIAL RESULTS
Highlights
Canadian Dollars Q1 / 2000 Q1 / 1999
$ $
----------- -----------
Oil and gas sales 5.7 million 2.7 million
Sales price per bbl 35.87 15.33
Cash Flow 4.2 million 1.1 million
Per share - basic 0.07 0.03
- fully diluted 0.07 0.02
Earnings (loss) 2.1 million (0.3 million)
Per share - basic and
fully diluted 0.03 (0.01)
Production Summary
Average (bopd) 1,880 2,600
Total Production (bbls) 171,000 234,000
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