Courage Energy announces six months June 30, 1996 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)--AUG. 22, 1996--COURAGE ENERGY INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 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. ) COURAGE ENERGY INC. announces the financial results for the six months ended June June: see month. 30th, 1996. All of the company's financial and operating results continue to dramatically improve as the result of increased production volumes and higher oil and natural gas prices. Revenues, net of royalties, were $4,511,703 in the first six months 1996, an increase of 45 percent from $3,101,387 in the first six months of 1995. Cash flow was $2,703,818 or $0.15 per share in the first six months of 1996 up 87 percent from $1,444,337 or $0.09 per share in the corresponding period of 1995. Net income was $794,545 up 204 percent from $261,571 in the same period of 1995. During the first six months of 1996, Courage participated in drilling 17 gross (6.15 net) wells which resulted in 14 oil wells, 2 gas wells and one dry hole representing a 94 percent success rate. Production volumes averaged 1,478 BOE/D during the second quarter 1996. Not included in the production or financial results are six wells which were drilled but not producing due to delays in pipeline construction. Time delays have been encountered as the result of an unseasonably cold winter and wet spring. These wells are now producing and a new corporate production rate of 2,000 BOE/D has been established. CONTACT: Courage Energy Inc. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. G. Moffat 403/266-4422 403/264-1028 (FAX) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion