Cube Energy announces year end 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 21, 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 December December: see month. 31, 1995 year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. as follows: -0- FINANCIAL 1995 1994 --------- ----------- ----------- Revenue $13,010,321 $12,747,300
Cash Flow from Operations $ 5,361,142 $ 6,670,027
Per share - basic $ 1.56 $ 2.41
- fully diluted $ 1.47 $ 2.31
Net Earnings $ 220,672 $ 2,324,627 Per share - basic $ 0.06 $ 0.84 Per share - fully diluted $ 0.06 $ 0.82 Working Capital (Debt) $(4,674,179) $(1,148,782)
Common Shares - issued 4,054,027 2,762,850
- fully diluted 4,408,327 3,020,050
---------------------------------------------------------
OPERATING
---------
Natural Gas Reserves (MMCF) 71,729 47,964
- Proven 57,538 36,390
- Probable 14,191 11,574
Oil and NGL Reserves (MBBLS) 1,293 804 - Proven 900 773 - Probable 393 31 Production - Natural gas (MCF per day) 16,785 10,824 - Oil (BBL per day) 329 378 Land Holdings (net acres) 89,051 61,988 - Developed 33,900 26,489 - Undeveloped 55,151 35,499 Average Sales Price - Natural gas (per MCF) $ 1.33 $ 2.00 - Oil (per BBL) $ 21.51 $ 19.75 Net Asset Value per Share (15 percent DCF) $ 10.20 $ 11.45 (Proven plus 50 percent of Probable) Capital Expenditures $20,247,790 $ 9,426,322 Finding Costs per BOE $ 5.15 Not available (Proven plus 50 percent due to year- of Probable) end change ------------------------------------------------------------ The year-end reserve amounts are based on a report prepared by Sproule Associates Limited as of January 1, 1996. -------------------------------------------------------------- The segmented quarterly information for the fourth quarter is as follows:
Three Months
Ended
December 31, 1995
------------------
Revenue $4,043,472
Cash Flow from Operations $2,157,715
Per Share - basic 0.57
- fully diluted 0.52
Net Earnings $78,525
Per Share - basic 0.02
- fully diluted 0.02
Production - Natural gas (MCF per day) 20,585 - Oil (BBL per day) 421 Average Sales Price - Natural gas (per MCF) $ 1.41 - Oil (per BBL) $ 20.36 ------------------------------------------------------ Comparative amounts for the fourth quarter of 1994 is not provided due to Cube's change in year-end in 1994. -------------------------------------------------------0- CONTACT: Cube Energy Corp., Calgary Randal J. Matkaluk, 403/264-4405 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion