Business
Mystique Energy Reports Financial Results for the First Quarter of 2008
CALGARY, June 3 /CNW/ - Mystique Energy, Inc. (MYS:TSX Venture) reports its financial for the thr...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, June 3 /CNW/ - Mystique Energy, Inc. (MYS:TSX Venture) reports\nits financial for the three months ended March 31, 2008.\n\n\nFinancial results include:\n\n\n- Cash flow for the three months ended March 31, 2008 was\n ($173.5) thousand compared to $512.8 thousand for the same\n period of 2007.\n- As a result of selling all of the company's assets in 2007, there\n were no production sales during the first quarter of 2008 compared to\n an average sales rate of 454 barrels of oil equivalent ("boepd")\n during the first quarter of 2007\n- Net loss for the three months ended March 31, 2008 was\n $173.5 thousand compared to a net loss of $413.4 thousand for the\n first quarter of 2007.\n\nCorporate events for the first quarter of 2008 include the following:\n\n- Completed the initial cash distribution to unsecured creditors.\n- Obtained approval for the extension of the Plan until 2008-09-15 to\n provide additional time for the anticipated business combination with\n Petro Energy Corp to be completed and to make a final cash\n distribution to unsecured creditors.\n\n\nComplete financial results will be filed on SEDAR later today.\n\n\n(x) Use of the term barrels of oil equivalent "boe" may be misleading,\nparticularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is\nbased on an energy equivalency conversion method primarily applicable at the\nburner tip and does not represent a value equivalency at the wellhead.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release. This news release\nmay contain forward-looking information. Actual future results may differ\nmaterially from those contemplated. The risks, uncertainties, and other\nfactors that could influence actual results are described in documents filed\nwith regulatory authorities.\n\n\n MYSTIQUE ENERGY INC.\n\n BALANCE SHEETS\n (Unaudited)\n\n MARCH 31 DECEMBER 31\n 2008 2007\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nASSETS\n\nCurrent\n Cash and cash equivalents $ 423,650 $ 8,300,964\n Accounts receivable 256,221 272,398\n Refundable deposits 93,133 93,133\n Prepaid expenses 127,421 135,934\n --------------------------------\n 900,425 8,802,429\n\nP...