Business
Berens Energy Ltd. releases financial results for the first quarter ended March 31, 2008
Symbol: BEN - TSX CALGARY, May 13 /CNW/ - FINANCIAL AND OPERATING HIGHLIGHTS
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\nSymbol: BEN - TSX\n\n\nCALGARY, May 13 /CNW/ -\n\n\n FINANCIAL AND OPERATING HIGHLIGHTS\n\n-------------------------------------------------------------------------\n($ Cdn thousands, Three months\n except as noted) ended March 31,\n-------------------------------------------------------------------------\n 2008 2007 % Change\n-------------------------------------------------------------------------\nSales volume\n Natural gas (mcf/day) 19,104 18,705 2%\n Oil and ngls (bbl/day) 628 499 26%\n-------------------------------------------------------------------------\n boe/day (6 to 1) 3,812 3,617 5%\n-------------------------------------------------------------------------\nRevenue net of royalties 14,516 11,780 23%\n-------------------------------------------------------------------------\nNet income (loss) (5,413) (3,044) (78%)\n Per share (basic and diluted) $ (0.06) $ (0.03)\n-------------------------------------------------------------------------\nFunds from operations(1) 9,269 6,973 33%\n Per share (basic and diluted)(1) $ 0.10 $ 0.07\n-------------------------------------------------------------------------\nCapital costs\n Exploration and development 10,168 17,078 (50%)\n Land and seismic 1,414 1,071 32%\n Other 2 12\n-------------------------------------------------------------------------\n Total 11,586 18,161 (45%)\n-------------------------------------------------------------------------\nNet wells completed (No.) 5 7\n-------------------------------------------------------------------------\nNet working capital deficit - excluding\n unrealized hedging losses (61,996) (66,896) (7%)\n-------------------------------------------------------------------------\nNet working capital deficit - including\n unrealized hedging losses (69,711) (67,468) 3%\n-------------------------------------------------------------------------\nShares outstanding\n End of period (000's) 93,172 92,947 -\n-------------------------------------------------------------------------\n-------------------------------------------------------------------------\nNote:\n(1) Non-GAAP measure - represents cash flow from operating activities\n before non-cash working capital changes. Refer to Management's\n Discussion and Analysis for discussion of this measure.\n\n\n\nFirst Quarter 2008 Operating Highlights\n\nBerens is pleased to provide our first qua...