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Mystique Energy Reports Financial Results for the Second Quarter of 2008
CALGARY, Aug. 28 /CNW/ - Mystique Energy, Inc. (MYS:TSX Venture) reports its financial results fo...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 28 /CNW/ - Mystique Energy, Inc. (MYS:TSX Venture) reports\nits financial results for the three months ended June 30, 2008.\n\n\nFinancial results include:\n- Cash flow for the three months ended June 30, 2008 was $47.8 thousand\n compared to ($1,431.5) thousand for the same period of 2007.\n- Net earnings for the three months ended June 30, 2008 was\n $43.7 thousand compared to a net loss of $1464.1 thousand for the\n second quarter of 2007.\n\n\nComplete financial results will be filed on SEDAR later today.\n\n\nIn other corporate developments, Mystique continues to work with Petro\nEnergy Corp. to complete the business combination as previously disclosed.\n\n\nUse 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 (unaudited)\n\n\n JUNE 30 DECEMBER 31\n 2008 2007\n-------------------------------------------------------------------------\nASSETS\n\nCurrent\n Cash and cash equivalents $ 258,159 $ 8,300,964\n Accounts receivable 233,672 272,398\n Refundable deposits 122,528 93,133\n Prepaid expenses 27,422 135,934\n ---------------------------\n 641,781 8,802,429\n\nProperty, Plant and Equipment 42,345 50,659\n ---------------------------\n\n $ 684,126 $ 8,853,088\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nLIABILITIES\n\nCurrent\n Accounts payable and accrued liabilities $ 54,627 $ 382,406\n Accounts payable per CCAA 1,989,265 9,696,456\n ---------------------------\n 2,043,892 10,078,862\n ---------------------------\n\nSHAREHOLDERS' EQUITY\n\nShare Capital (Note 3) 16,649,434 16,649,434\nContributed Surplus 1,317,2...