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Highlights

 

Summary from our most recent update:

Six Months Ended
June 30,

Six Months Ended
June 30,

 

2010
2009
2010
2009

(Unaudited)
(Unaudited)
 (Unaudited)

(Unaudited)

Petroleum and natural gas sales, net of transportation ($000's)
6,431
5,214
13,546
11,923

Sales volumes per day

Natural gas (Mcf/d)

13,952
14,424
13,310
13,855

Natural gas liquids (Bbl/d)

210
212
201
218

Equivalence at 6:1 (BOE/d)

2,535
2,616
2,419
2,527

Sales Price

Natural gas ($/Mcf)

4.02
3.25
4.60
4.05

Natural gas liquids ($/Bbl)

69.16
49.55
67.68
44.67

Equivalence at 6:1 ($/BOE)

27.87
21.90
30.93
26.08

 

 

Funds from operations ($000's) (1)

2,878
2,569
5,838
5,529

- per share, basic (1)
0.03
0.05
0.07
0.10

- per share, diluted (1)

0.03
0.05
0.07
0.10

Net income (loss) (000's)
(1,865)
(2,553)
(3,171)
(4,567)

- per share, basic

(0.02)
(0.05)
(0.04)
(0.08)
- per share, diluted
(0.02)
(0.05)
(0.04)
(0.08)
 

Capital expenditures ($000's)
5,719
(150)
20,782
3,523
 

Basic weighted average shares outstanding ($000's)
81,775
55,632
78,122
55,632

Working capital (net debt) ($000's) (2)
- As at June 30, 2010
(8,941)
- As at December 31, 2009
(29,444)
 
   

 

  
As at August 4, 2010

 

Common shares outstanding (000's)

    
81,874

 

Options outstanding (000's)

    
6,024

 

- Weighted average exercise price

    
1.29

 

(1) Funds from operations is a not a generally accepted accounting principle ("GAAP") measure and represents cash provided by operating activities on the statement of changes, less the effect of changes in non-cash working capital related to operating activities.
(2) Net debt is a non-GAAP measure and represents the sum of the working capital (deficiency) and the outstanding credit facility balance.