Shiningbank Energy Income Fund Future Oriented Financial Information.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)--Feb. 27, 1997-- Shiningbank(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). SHN SHN Saint Helena (ISO Country code) SHN Servicio de Hidrografía Naval SHN Shorthand Note SHN Self Healing Network .IR. SHN.IR.A.) Shiningbank Energy Management Inc., the Manager of Shiningbank Energy Income Fund (the "Fund"), announced today the release of updated Future Oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. Financial Information ("Updated FOFI FOFI Federazione degli Ordini dei Farmacisti Italiani FOFI Future-Oriented Financial Information FOFI Focus on the Family Institute ") dated February February: see month. 12, 1997. This information updates the July 18, 1996 FOFI which was withdrawn on December 12, 1996 due to an acquisition of an additional royalty on property acquired by Shiningbank Energy Ltd. on December 2, 1996. The Updated FOFI is for the same period being the twelve months ended June 30, 1997. The major changes from the FOFI dated July 18, 1996 are the inclusion of actual results for the three-month period ended September 30, 1996, changes in estimated commodity prices, additional revenue and expenses from the new properties purchased in December, 1996 and the effect of the additional 2,200,000 Trust Units issued on February 25, 1997. Oil and natural gas sales, net of royalties, increased 28 percent to $19.6 million and net income increased 20 percent from $1.44 million ($0.27 per unit) to $1.73 million ($0.29 per unit). Distributable income was up 23 percent from $7.9 million ($1.50 per unit) to $9.8 million ($1.53 per unit). The Updated FOFI was included in a prospectus dated February 12, 1997 related to the issue of 2,200,000 Trust Units and copies are available on request from Shiningbank Energy Income Fund. CONTACT: Shiningbank Energy Management Inc. Arne R. Nielsen, 403/268-7477 403/268-7499 (FAX) or Shiningbank Energy Management Inc. David Fitzpatrick, 403/ 268-7477 403/268-7499 (FAX) |
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