Bonterra Oil & Gas Ltd. Announces First Quarter 2009 Results

About this update from Bonterra Energy Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, May 13 /CNW/ - Bonterra Oil & Gas Ltd. ("Bonterra" or the\n"Company") (www.bonterraenergy.com) (TSX: BNE) is pleased to announce its\nfinancial and operational results for the three months ended March 31, 2009.\n\n\nHighlights\n\nFor the three months ended March December March\n($ 000 except $ per unit) 31, 2009 31, 2008 31, 2008\n-------------------------------------------------------------------------\nFINANCIAL\nRevenue - realized oil and gas sales 19,300 22,613 30,493\nCash flow from operations 6,632 10,336 16,212\n Per share/unit - basic 0.38 0.59 0.96\n Per share/unit - diluted 0.38 0.59 0.96\n Payout ratio(1) 94% 105% 73%\nFunds flow(3) 8,376 9,880 18,058\n Per share/unit - basic 0.49 0.57 1.07\n Per share/unit - diluted 0.49 0.57 1.06\n Payout ratio(1) 74% 109% 66%\nCash dividends per share/unit(1) 0.36 0.62 0.70\nNet earnings 6,093 10,585 10,804\n Per share/unit - basic 0.35 0.62 0.64\n Per share/unit - diluted 0.35 0.62 0.64\nCapital expenditures and acquisitions 2,696 30,405 6,421\nTotal assets 260,732 265,301 150,169\nWorking capital deficiency 14,909 23,878 57,810\nLong-term debt 89,383 79,910 -\nShareholders'/unitholders' equity 56,377 56,777 48,136\n-------------------------------------------------------------------------\nOPERATIONS\nOil and NGLs - barrels per day 3,268 3,105 3,153\n - average price\n ($ per barrel) 45.80 58.91 87.20\nNatural gas - MCF per day 12,223 8,892 7,139\n - average price\n ($ per MCF) 5.19 7.00 8.32\nTotal barrels of oil equivalent\n per day (BOE)(2) 5,305 4,587 4,343\n-------------------------------------------------------------------------\n(1) Cash payments per share/unit are based on payments made in respect of\n production months within the quarter.\n(2) BOE is calculated using a conversion ratio of 6 MCF to 1 barrel of\n oil. The conversion is based on an energy equivalency conversion\n method primarily applicable at the burner tip and does not represent\n a value equivalency at the wellhead and as such may be misleading if\n used in isolation.\n(3) Funds flow is not a recognized measure under GAAP. For these\n purposes, the Company defines funds flow as funds provided by\n operations before changes in non-cash operating working capital items\n excluding gain on sale of property and asset retirement expenditures.\n\n\nReport to Shareholders\...

More updates from Bonterra Energy Corp.