Here it is.... A summary of the AJM Valuation is included in the tables below:
Proved and Probable Reserves - as at 29 FEB 2012
| | | Proved (1P)
mbbls | Proved + Probable (2P)
mbbls | Proved (1P)
BT NPV10% | Proved + Probable (2P)
BT NPV10% |
| Pierson | Man | 913.9 | 1,398.6 | $16,797,400 | $29,142,700 |
| Roncott | Sask | 92.1 | 214.8 | $1,438,300 | $4,251,400 |
| Ferrier | Alta | 4.7 | 7.3 | $68,800 | $108,100 |
| Total | | 1,010.7 | 1,620.6 | $18,304,500 | $33,502,200 |
Financial and Operational Highlights
- Proved plus Probable reserves have a before tax net present value, discounted at 10% (NPV 10) of $33,502,200 or approximately
.12 per share. - The AJM Valuation does not include any land value associated with the Windfall, Porcupine Hills, or certain Roncott assets.
- In the fourth quarter the Company generated a 575% quarter over quarter increase in production.
- Over the full year the Company generated a 205% year over year increase in production.
- In the fourth quarter of fiscal 2012 the Company realized revenue of $1.5 million vs. the fourth quarter of the previous year of $134,000. This represents an increase of 1,009% quarter over quarter.
- Net income for the fiscal year was $2.4 million vs. a previous fiscal year loss of ($2.4 Million). This represents a change in net income of $4.8 million.
- Earnings per share was 1 cent vs a previous year loss of (1 cent).
- Operating costs on a per boe basis declined 38% in the fourth quarter vs. the prior year's fourth quarter.
- General and Administrative costs declined 90% on a per boe basis in the fourth quarter vs. the prior year's fourth quarter.
- Atikwa has identified in excess of 35 gross (21 net) undeveloped locations in Manitoba and plans to announce it's summer drilling schedule shortly.
- In March, 2012, the Company secured a credit facility of up to $3,000,000 in debt financing. This facility has allowed the Company to continue to strengthen its balance sheet and move forward with the development of its oil properties.
- Atikwa sold a section of land in the Company's 100% owned Windfall property for $250,000. The Company still maintains a 7 section block of contiguous land in the area that it is in the process of selling or farming out.