Past year: ▼ 0%(1.21 – 3.17 USD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Feb 2009resource reserve update▼ BadMajor
Production held up in late 2008 at 7,641 barrels of oil equivalent a day, but reserves did not: proved reserves fell 13% to 33.2 million barrels of oil equivalent after an 8.2 million barrel downward revision driven purely by the price collapse, oil having gone from $96 to $45. The value of those reserves halved, to about $308 million.
23 Jan 2004drilling progress report▲ GoodMajor
Parallel reported that proved reserves rose about 15% to 14.8 million barrels of oil equivalent at December 31, 2003, from 12.9 million a year earlier, with 2003 production of about 1.2 million. The company attributes the increase to refracs on the Fullerton properties bought in December 2002, results at its Lion Diamond M project, and East Texas and South Texas gas drilling. The estimated value of proved reserves rose about 20% to roughly $148m from $123m. Management plans about $50m of capital spending over three years (about $17m in 2004), which it expects to fund from operating cash flow and which excludes acquisitions.
