Dominion Explorers Inc. Announces Operation Results.CALGARY, Alberta--(BUSINESS WIRE)--May 23, 1996--DOMINION EXPLORERS (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DMN DMN Dimension DMN Dimethylnitrosamine (carcinogen) DMN Data Multiplexing Network DMN Defective Material Notice DMN Discrete Memoryless Network DMN Document Management Number DMN Dynamic Mesh Network DMN Digital Milti-Network ) Dominion Explorers Inc. of Calgary announces the result of its operations for the three months ending March 31, 1996. Revenue for the period from crude oil, natural gas and natural gas liquids sales were $1,860,000, and increase of 9 percent over the revenues for the same period last year of $1,707,000. Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses was $900,000 ($0.05 per share), compared to $808,000 ($0.05 per share) for the similar period one year ago respecting an increase of 11 percent. Earnings were $324,000 or $0.02 per share compared to $335,000 or $0.02 per share in the first three months of 1995. Revenue is up for the period due to higher oil prices and increased natural gas volumes. Dominion received average prices of $23.17 per barrel of crude oil, $1.53 per thousand cubic feet (MCF) of natural gas and $16.59 per barrel of natural gas liquids in the current three months versus $21.87 per barrel, $1.53 per MCF and $14.23 per barrel respectively in the same period in 1995. Production for the three months yielded 6,983 MCF per day and 466 barrels of oil and natural gas liquids per day compared to 5,704 MCF per day and 476 barrels of oil and natural gas liquids per day in the prior period. The majority of the production came from the core properties in the Gilby, Medicine River, Sylvan Lake Sylvan Lake can refer to: Communities:
Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. . Dominion drilled 8 wells (2.79 net) in the first quarter of 1996 resulting in 2 oilwells, 5 gaswells and 1 dry hole. The second quarter drilling program is well underway in Central Alberta. Dominion has participated in 3 wells at Thorhild with an average working interest of 32 percent. Two wells have been cased as potential gas wells, while the third is currently drilling. Drilling will commence this week on a new pool wildcat wildcat, common name of two Old World cats, the European wildcat, Felis sylvestris, of Europe and W Asia, and the African wildcat, or kaffir cat, F. lybica, of Africa and Asia. at Garrington with a 50 percent working interest and a development well at Clive with a 38 percent working interest. CONTACT: Dominion Explorers Inc. John A. Pope President 403/571-1100 403/571-1101 (FAX) or Dominion Explorers Inc. Andrew S. Burgess BURGESS. A magistrate of a borough; generally, the chief officer of the corporation, who performs, within the borough, the same kind of duties which a mayor does in a city. In England, the word is sometimes applied to all the inhabitants of a borough, who are called burgesses sometimes it Vice-President 403/571-1100 403/571-1101 (FAX) |
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