Bonterra Oil & Gas Ltd. Announces Second Quarter 2009 Results

About this update from Bonterra Energy Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 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 and six months ended\nJune 30, 2009.\n\n\nHighlights\n\n Three months ended Six Months Ended\n-------------------------------------------------------------------------\n($ 000 except $ per June 30, June 30, June 30, June 30,\n share/unit) 2009 2008 2009 2008\n-------------------------------------------------------------------------\nFINANCIAL\nRevenue - realized oil\n and gas sales 20,501 34,398 39,801 64,891\nCash flow from operations 9,238 20,530 15,870 36,742\n Per share/unit - basic 0.52 1.21 0.91 2.16\n Per share/unit - diluted 0.52 1.19 0.91 2.15\n Payout ratio(1) 77% 69% 83% 71%\nFunds flow(3) 9,780 21,352 18,156 39,410\n Per share/unit - basic 0.55 1.25 1.04 2.32\n Per share/unit - diluted 0.55 1.24 1.04 2.31\n Payout ratio(1) 73% 67% 73% 67%\nCash dividends per\n share/unit(1) 0.40 0.84 0.76 1.54\nNet earnings 4,544 12,912 10,637 23,716\n Per share/unit - basic 0.26 0.76 0.61 1.40\n Per share/unit - diluted 0.26 0.75 0.61 1.39\nCapital expenditures and\n acquisitions 2,255 2,543 4,956 8,964\nTotal assets 258,393 153,247\nWorking capital deficiency 13,989 57,148\nLong-term debt 71,573 -\nShareholders'/unitholders'\n equity 72,332 46,612\n-------------------------------------------------------------------------\nOPERATIONS\nOil and NGLs\n - barrels per day 3,029 3,024 3,148 3,088\n - average price\n ($ per barrel) 59.77 101.69 52.56 94.31\nNatural gas - MCF per day 11,912 7,272 12,067 7,206\n - average price\n ($ per MCF) 3.64 9.61 4.42 8.97\nTotal barrels of oil\n equivalent per day (BOE)(2) 5,014 4,236 5,159 4,289\n-------------------------------------------------------------------------\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 define...

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