Cimarron Petroleum Announces Audited Financial Results.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)--March 7, 1996--CIMARRON PETROLEUM (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIR (Committed Information Rate) In a frame relay network, the average transmission rate in bits per second (typically Kbps) for a virtual circuit. It defines the maximum rate that the network can handle under normal conditions. ) Cimarron Cimarron (sĭm`ərŏn'), river, 698 mi (1,123 km) long, rising in NE N.Mex., and flowing generally E to the Arkansas River, W of Tulsa, Okla. It follows the direct route of the Santa Fe Trail for many miles in Kansas. Petroleum Ltd. announces its AUDITED financial results and supplementary operating data for the year ended December December: see month. 31, 1995 and annual meeting date. -0-
Three Months Ended Year Ended
December 31 December 31 Percent
1995 1994 1995 1994 Change
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FINANCIAL (000 except per share)
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Gross revenues $10,068 $7,805 $34,690 $31,470 + 10
Cash flow 5,525 3,944 18,506 17,606 + 5 Per share 0.56 0.50 2.19 2.25 - 3
Income 1,037 407 4,286 4,335 - 1
Per share 0.10 0.04 0.51 0.55 - 7
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PRODUCTION
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Liquids (thousands of
barrels) 216 201 818 807 + 1
Per day (barrels) 2,346 2,187 2,240 2,211 + 1
Netback per barrel
Sales price $20.22 $20.33 $21.34 $19.46 + 10
Royalties 2.40 2.88 2.60 2.39 + 9
Operating costs 4.84 4.88 4.78 4.70 + 2
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$12.98 $12.57 $13.96 $12.37
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Gas (million cu. ft.) 3,971 2,260 12,700 8,041 + 58
Per day (million cu.
ft.) 43.2 24.6 34.8 22.0 + 58
Netback per thousand
cu. ft.
Sales price $1.44 $1.64 $1.36 $1.96 - 31
Royalties 0.05 0.19 0.12 0.23 - 48
Operating costs 0.27 0.42 0.26 0.31 - 16
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$1.12 $1.03 $ .98 $1.42 - 31
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WELLS DRILLED (January - December 1995)
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Exploratory Development Total
Gross Net Gross Net Gross Net
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Oil 5 4.4 4 2.4 9 6.8
Gas 12 10.0 4 3.6 16 13.6
Dry 2 1.4 1 1.0 3 2.4
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TOTAL 19 15.8 9 7.0 28 22.8
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Dec. 31 Dec. 31 Percent
LANDS (thousands of acres) 1995 1994 Change
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Gross - Developed 297 106 + 180
- Undeveloped 735 183 + 302
- Total 1,032 289 + 257
Net - Developed 135 67 + 101
- Undeveloped 325 122 + 166
- Total 460 189 + 143
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RESERVES
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Oil and NGL (thousands
of barrels) 8,179 6,358
Natural Gas (billion cubic
feet) 189 107
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NET INDEBTEDNESS (millions)
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Long-term debt 45.3 16.8
Working capital deficit .2 2.8
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45.5 19.6
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SHARE DATA (millions) -------------------------------------------------------------- Weighted average 8.5 7.9 Outstanding at Period End 10.8 7.9 -------------------------------------------------------------- The annual meeting of Cimarron Petroleum Ltd. shareholders is to be held at the Westin Hotel on the 22nd day of May, 1996 at 3:30 p.m. local time. CONTACT: Cimarron Petroleum Ltd. Randy The name Randy generally derives from the names Randall or Randolph (meaning wolf with a shield). Randy is used as a given name primarily in the US and Canada. Men known as Randy
President and Chief Executive Officer 403/265-8900 403/266-2780 (FAX) or Cimarron Petroleum Ltd. Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Ripplinger Chief Financial Officer 403/265-8900 403/266-2780 (FAX) |
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