Atikwa Resources Inc. V.ATK

Here it is....

[funkshow33]

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.

[savuti]

Thanks for the post Funkshow33