Cube Energy Corp. Announces Six 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)--AUGUST 12, 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 six month period ended June June: see month. 30, 1996 as follows:
Percent
1996 1995 Change
---------- --------- -------
Revenue $7,839,099 $5,662,716 38
Cash Flow from Operations $3,476,188 $2,461,142 41
Per share - basic $ 0.85 $ 0.78 9
- fully diluted $ 0.81 $ 0.71 14
Net Earnings $ 391,188 $ 304,142 29
Per share - basic $ 0.10 $ 0.10 -
- fully diluted $ 0.10 $ 0.09 11
Common Shares - issued 4,073,227 3,543,360 15
- fully diluted 4,467,077 3,897,660 15
Production - Natural gas (MCF per day) 18,604 13,483 38 - Oil (BBL per day) 341 292 17 Average Sales Price - Natural gas (per MCF) $ 1.54 $ 1.32 17 - Oil (per BBL) $ 24.04 $ 22.79 5 ------------------------------------------------------------- The segmented quarterly information for the second quarter is as ~follows:
Three Months Ended
June 30, June 30, Percent
1996 1995 Change
---------- ---------- -------
Revenue $3,779,985 $2,830,319 34
Cash Flow from Operations $1,539,900 $1,077,262 43
Per share - basic $ 0.37 $ 0.28 32
- fully diluted $ 0.36 $ 0.25 44
Net Earnings $ 109,900 $ 24,262 353
Per share - basic $ 0.03 $ 0.01 200
- fully diluted $ 0.03 $ 0.01 200
Production - Natural gas (MCF per day) 18,612 14,090 32 - Oil (BBL per day) 310 316 ( 2) Average Sales Price - Natural gas (MCF per day) $ 1.51 $ 1.34 13 - Oil (per BBL) $ 25.90 $ 24.04 8 CONTACT: Cube Energy Corp. Mr. Randal J. Matkaluk, C.F.O. 403/264-4405 |
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