 |
Corporate Overview
As
at April 30, 2010
·
35 (100%
owned) multi-leg horizontal oil wells and 12 (9.75 net) natural gas wells
producing at March 31, 2010.
·
72% oil – 28%
natural gas. All oil is 24 degree API ‘Hardisty-Bow River’ medium crude.
·
Very
focused with over 96% of production at Killam in east
central Alberta.
·
Water-flood
facilities completed at Killam end of September 2009.
·
Water-flood
approval by provincial regulators received mid November 2009, injection
commenced shortly thereafter.
·
13 injector
wells currently injecting 4,200 Bbls of water per day
(a combination of vertical wells drilled and converted horizontal wells). Water is drawn from 7 water source wells plus
water from producing wells.
·
24 sections
of land at Killam (mostly 100% owned) complete with
3D seismic.
·
63 sections
of land acquired in SW Saskatchewan
·
A new
exploration program is underway in Saskatchewan, with 3 horizontal oil wells
drilled in Q1 2010 (one is currently on production, one is suspended, and one is
still being tested).
|
Daily Production
|
Q1 09
|
Q2 09
|
Q3 09
|
Q4 09
|
2009
|
|
Crude oil (bbls/d)
|
1,236
|
1,065
|
871
|
770
|
984
|
|
NGLs (bbls/d)
|
1
|
1
|
1
|
1
|
1
|
|
Natural gas (Mcf/d)
|
2,815
|
2,481
|
2,136
|
1,815
|
2,308
|
|
BOE/d (6:1)
|
1,706
|
1,480
|
1,229
|
1,073
|
1,370
|
|
|
|
|
|
|
|
|
Financial
|
Q1 09
|
Q2 09
|
Q3 09
|
Q4 09
|
2009
|
|
Gross Revenues (000’s)
|
6,253
|
6,777
|
5,761
|
5,679
|
24,471
|
|
Cash Flow (000’s)
|
2,721
|
3,032
|
2,327
|
1,939
|
10,018
|
|
Cash Flow per share - basic
|
0.12
|
0.13
|
0.10
|
0.08
|
0.42
|
|
Cash Flow per share - diluted
|
0.11
|
0.13
|
0.10
|
0.08
|
0.42
|
|
Earnings (000’s)
|
(1,721)
|
(1,532)
|
(1,211)
|
(375)
|
(4,840)
|
|
Earnings per share - basic
|
(0.07)
|
(0.07)
|
(0.05)
|
(0.02)
|
(0.21)
|
|
Earnings per share - diluted
|
(0.07)
|
(0.07)
|
(0.05)
|
(0.02)
|
(0.21)
|
|
Capital Expenditures (000’s)
|
2,112
|
1,705
|
4,320
|
4,968
|
13,105
|
|
Total Assets (000’s)
|
74,584
|
71,734
|
72,226
|
73,979
|
73,979
|
|
Daily Production
|
Q1 08
|
Q2 08
|
Q3 08
|
Q4 08
|
2008
|
|
Crude oil (bbls/d)
|
1,638
|
1,814
|
1,764
|
1,319
|
1,633
|
|
NGLs (bbls/d)
|
3
|
3
|
2
|
2
|
3
|
|
Natural gas (Mcf/d)
|
5,014
|
4,537
|
3,856
|
2,801
|
4,048
|
|
BOE/d (6:1)
|
2,477
|
2,573
|
2,409
|
1,787
|
2,310
|
|
|
|
|
|
|
|
|
Financial
|
Q1 08
|
Q2 08
|
Q3 08
|
Q4 08
|
2008
|
|
Gross Revenues (000’s)
|
15,850
|
21,980
|
20,615
|
7,910
|
66,355
|
|
Cash Flow (000’s)
|
8,907
|
12,880
|
11,653
|
2,705
|
36,145
|
|
Cash Flow per share - basic
|
0.44
|
0.54
|
0.49
|
0.11
|
1.57
|
|
Cash Flow per share - diluted
|
0.42
|
0.53
|
0.48
|
0.11
|
1.54
|
|
Earnings (000’s)
|
2,867
|
5,407
|
3,613
|
(2,168)
|
9,718
|
|
Earnings per share - basic
|
0.14
|
0.23
|
0.15
|
(0.09)
|
0.42
|
|
Earnings per share - diluted
|
0.14
|
0.22
|
0.15
|
(0.09)
|
0.41
|
|
Capital Expenditures (000’s)
|
12,660
|
22,624
|
3,693
|
6,119
|
45,096
|
|
Total Assets (000’s)
|
64,607
|
82,895
|
79,316
|
77,290
|
77,290
|
|
|
|
|
|
|
|
Daily Production
|
Q1 07
|
Q2 07
|
Q3 07
|
Q4 07
|
2007
|
|
Crude oil (bbls/d)
|
569
|
1,668
|
1,829
|
1,668
|
1,438
|
|
NGLs (bbls/d)
|
10
|
4
|
3
|
3
|
5
|
|
Natural gas (Mcf/d)
|
1,741
|
4,824
|
4,607
|
4,943
|
4,039
|
|
BOE/d (6:1)
|
869
|
2,476
|
2,600
|
2,495
|
2,116
|
|
|
|
|
|
|
|
|
Financial
|
Q1 07
|
Q2 07
|
Q3 07
|
Q4 07
|
2007
|
|
Gross Revenues (000’s)
|
3,917
|
11,058
|
11,926
|
11,870
|
38,771
|
|
Cash Flow (000’s)
|
1,718
|
5,898
|
6,219
|
5,591
|
19,426
|
|
Cash Flow per share - basic
|
0.08
|
0.29
|
0.30
|
0.27
|
0.94
|
|
Cash Flow per share - diluted
|
0.08
|
0.28
|
0.29
|
0.26
|
0.91
|
|
Earnings (loss) (000’s)
|
(176)
|
565
|
522
|
428
|
1,339
|
|
Earnings (loss) per share - basic
|
(0.01)
|
0.03
|
0.03
|
0.02
|
0.07
|
|
Earnings (loss) per share - diluted
|
(0.01)
|
0.03
|
0.02
|
0.02
|
0.06
|
|
Capital Expenditures (000’s)
|
16,895
|
9,043
|
9,074
|
11,455
|
46,467
|
|
Total Assets (000’s)
|
36,399
|
43,218
|
46,871
|
49,003
|
49,003
|
|
|
|
|
|
|
|
|
|
As at April 30, 2010
Share Structure
|
Outstanding - basic
|
24,519,754
|
Options
|
1,620,000
|
Fully Diluted
|
26,139,754
|
Credit Facilities
= $30 million
Net
Debt = Approx. $18.5 million
(bank debt plus working capital)
|
