News! Earnings increase of 591%, yet shares price2008 Highlights
- Net earnings for the year increased 591% over 2007 to $21.9 million
resulting in $0.67 (basic and diluted) per share.
- Increased average daily production by 34% to 6,295 boe/d.
- Cash flow was 83% higher in 2008 at $75.6 million ($2.31 per diluted
share).
- Increased operating netback by 31% to $35.86 per boe and cash flow
netback by 37% to $32.82 per boe.
- Drilled 34 wells (26.7 net) with a 98% success rate. 14 (12.2 net) of
these wells were horizontals.
- Constructed a strategic gas facility at Pine Creek to handle new
volumes in a significant growth area.
- Increased undeveloped land by 126% to 171,183 net undeveloped acres.
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