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Raider Resources Announces Financial and Operating Results.

CALGARY, ALBERTA--(BUSINESS WIRE)--Nov. 22, 1996-- Raider (Alberta Stock Exchange RAI.) Raider Resources Ltd. is pleased to announce financial and operating results for the nine months ended September 30, 1996. Oil and gas sales for the period totalled $2,269,814, which is an 41 percent increase over $1,609,996 for the same nine months last year. Funds from operations were $634,327 or .16 cents per share in 1996 against $166,454 or .04 cents per share in 1995. Net loss for the period was $269,485 or .07 cents per share as compared to $84,830 or .02 cents per share last year. Production of oil and natural gas liquids averaged 210 barrels per day in 1996 as compared to 190 barrels per day in 1995 and production of natural gas averaged 1.9 million cubic feet of gas per day against 1.5 million cubic feet of gas per day. -0-

 1996 1995

Oil and Gas Sales $2,269,814 $1,609,996
Funds from Operations $634,327 $166,454
 per share .16 .04
Net Income (Loss) ($269,485) ($84,830)
 per share (.07) (.02)

Production:
Oil and NGL 57,330 BBL 40,660 BBL
 per day 210 BBL 190 BBL
Natural Gas 515,432 MCF 321,826 MCF
 per day 1,900 MCF 1,500 MCF

BOE per day 400 BOE 340 BOE





CONTACT: Raider Resources Ltd.

John H. Cassels, 403/571-5500

403/290-0032 (FAX)
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Publication:Business Wire
Date:Nov 22, 1996
Words:241
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