Cube Announces Nine Month 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)--Nov. 14, 1996--Cube Energy Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). CUK CUK Conservatoires UK .) Cube Energy Corp. announces financial and operating results for the nine month period ended September September: see month. 30, 1996 as follows: -0-
1996 1995 Percent
Change
-----------------------------------
Revenue $12,722,172 $8,966,849 42
Cash Flow from Operations $5,580,181 $3,482,147 60
Per share - basic $1.37 $1.05 30
- fully diluted $1.28 $0.96 33
Net Earnings $700,181 $142,147 393
Per share - basic $0.17 $0.04 325
- fully diluted $0.17 $0.04 325
Common Shares - issued 4,073,227 3,754,027 9
- fully issued 4,467,077 4,108,327 9
Production
- Natural gas (MCF per day) 20,446 15,504 32
- Oil (BBL per day) 337 298 13
Average Sales Price
- Natural gas (per MCF) $1.56 $1.29 21
- Oil (per BBL) $24.54 $22.04 11
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The segmented quarterly information for the third quarter is as
follows:
Three Months Ended
Percent
Sept.30/96 Sept.30/95 Change
--------------------------------
Revenue $4,883,073 $3,304,133 48
Cash From Operations $2,103,993 $1,021,005 106
Per share - basic $0.52 $0.28 86
- fully diluted $0.47 $0.25 88
Net Earnings $308,993 ($161,995) -
Per share - basic $0.07 $(0.04) -
- fully diluted $0.07 $(0.04) -
Production
Natural gas (MCF per day) 24,090 19,480 24
Oil (BBL per day) 329 311 6
Average Sales Price
Natural Gas (MCF per day) $1.58 $1.25 26
Oil (per BBL) $25.59 $20.68 24
CONTACT: Cube Energy Corp. Mr. Randal J. Matkaluk, 403/264-4405 |
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