Business
Berens Energy Ltd. releases results for the three and nine months ended September 30, 2007
Symbol: BEN - TSX CALGARY, Nov. 7 /CNW/ - FINANCIAL AND OPERATING HIGHLIGHTS
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\nSymbol: BEN - TSX\n\n\nCALGARY, Nov. 7 /CNW/ -\n\n\nFINANCIAL AND OPERATING HIGHLIGHTS\n\n-------------------------------------------------------------------------\n($ Cdn thousands, Three months Nine months\n except as noted) ended September 30, Ended September 30,\n-------------------------------------------------------------------------\n % %\n 2007 2006 Change 2007 2006 Change\n-------------------------------------------------------------------------\nSales volume\n Natural gas\n (mcf/day) 18,288 17,355 5% 18,969 17,077 11%\n Oil and ngls\n (bbl/day) 570 479 19% 543 465 17%\n boe/day\n (6 to 1) 3,618 3,372 7% 3,705 3,311 12%\n-------------------------------------------------------------------------\nRevenue net of\n royalties 10,666 9,536 12% 35,089 28,905 21%\nNet income (loss) (23,157) (2,662) (26,760) (6,389)\n Per share (basic\n and diluted) $(0.25) $(0.03) - $(0.29) $(0.07) 14%\nFunds from\n operations(1) 6,811 5,084 34% 21,563 16,352 32%\n Per share (basic\n and diluted)(1) $0.07 $0.06 17% $0.23 $0.19 21%\n-------------------------------------------------------------------------\nCapital costs\n Exploration and\n development 7,264 11,087 (34%) 29,462 40,763 (28%)\n Acquisition\n (disposition) (6,750) (1,764) (6,750) (1,764)\n Land and seismic 1,240 363 42% 3,396 4,396 (23%)\n Other 37 60 52 708\n-------------------------------------------------------------------------\n Total 1,791 9,746 26,160 44,103\n-------------------------------------------------------------------------\nNet wells completed\n (No.) 7 4 14 21\n-------------------------------------------------------------------------\nNet working capital\n (deficit) -\n including bank\n debt (58,593) (60,182) (58,593) (60,182)\n-------------------------------------------------------------------------\nShares outstanding\n End of period\n (000's) 93,172 86,447 8% 93,172 86,447 8%\n-------------------------------------------------------------------------\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\nThird Quarter 2007 Operating Highlights\n\nBerens is pleased to provide our third quarter results that show ongoing\ndrilling succes...