Berens Energy Ltd. releases financial results for the three and nine months ended September 30, 2008

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[{"type":"text","content":"\n\n\n\nBerens Energy Ltd.\nSymbol: BEN - TSX\n\n\nCALGARY, Nov. 12 /CNW/ -\n\n\n FINANCIAL AND OPERATING HIGHLIGHTS\n\n-------------------------------------------------------------------------\n($ Cdn thousands, Three months Nine months\nexcept as noted) ended September 30, Ended September 30,\n-------------------------------------------------------------------------\n % %\n 2008 2007 Change 2008 2007 Change\n-------------------------------------------------------------------------\nSales volume\n Natural gas\n (mcf/day) 19,592 18,288 7% 19,458 18,969 3%\n Oil and ngls\n (bbl/day) 845 570 48% 778 543 43%\n-------------------------------------------------------------------------\n boe/day\n (6 to 1) 4,110 3,618 14% 4,021 3,705 9%\n-------------------------------------------------------------------------\nRevenue net of\n royalties 17,368 10,666 63% 52,623 35,090 50%\n-------------------------------------------------------------------------\nNet income (loss) 8,167 (23,157) 1,412 (26,760)\n Per share (basic\n and diluted) $0.09 $(0.25) $0.01 $(0.29)\n-------------------------------------------------------------------------\nFunds from\n operations(1) 8,943 6,811 31% 30,782 21,564 43%\n Per share (basic\n and diluted)(1) $0.10 $0.07 43% $0.33 $0.23 43%\n-------------------------------------------------------------------------\nCapital costs\n Exploration and\n development 12,325 7,255 70% 24,064 29,419 (18%)\n Acquisition\n (disposition) - (6,750) - (6,750)\n Land and seismic 1,606 1,240 30% 4,035 3,396 18%\n Other 7 37 (81%) 14 52 (73%)\n-------------------------------------------------------------------------\n Total 13,938 1,782 682% 28,113 26,117 8%\n-------------------------------------------------------------------------\nNet wells completed\n (No.) 8 7 13 14\n-------------------------------------------------------------------------\nNet working capital\n deficit - excluding\n unrealized hedging\n gains/losses (56,819) (60,051) (5%) (56,819) (60,051) (5%)\n-------------------------------------------------------------------------\nNet working capital\n deficit - including\n unrealized hedging\n gains/losses (57,040) (58,593) (3%) (57,040) (58,593) (3%)\n-------------------------------------------------------------------------\nShares outstanding\n End of period\n (000's) 93,547 93,172 - 93,547 93,172 -\n----------------------...

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