LAURASIA RESOURCES LIMITED ANNOUNCES ITS RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 1995.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing , ONTARIO--(BUSINESS WIRE)--AUG. 28, 1995--LAURASIA RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LUR) Laurasia Laurasia (lôrāzh`ə): see continental drift. Laurasia Hypothetical former supercontinent in the Southern Hemisphere, which included modern North America, Europe, and Asia (except peninsular India). Resources Limited announced today its results for the six months ended June 30, 1995: -0-
1995 1994
Total Revenue $3,213,090 $3,154,194 Net Earnings before Tax $ 771,260 $ 770,977 Net Earnings $ 541,260 $ 685,977 Earnings per share 1.4 cents 1.7 cents Total cash flow $1,489,260 $1,189,265 Cash flow per share 3.8 cents 3 cents During the second quarter the Company increased its average daily production rate from the 887 boe/d produced in 1994 to 1,123 boe/d. This increased production rate has helped minimize the effect of a 40 percent decline in natural gas prices. Three wells drilled during this quarter on 100 percent owned land in the Retlaw area resulted in three cased oil wells. Currently the wells are being tested and equipped and will come on stream this quarter. During the third and fourth quarters, the Company plans on drilling at least four additional wells to delineate the extent of an oil discovery made during the second quarter on 33.33 percent owned lands in the Blackfoot area of Alberta. CONTACT: John M. Clark 416/367-0150 or Michael K. Barton BARTON, old English law. The demesne land of a manor; a farm distinct from the mansion. 403/269-7979 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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