Business
Compton Petroleum announces first quarter results
CALGARY, May 12 /CNW/ - Compton Petroleum Corporation ("Compton" or the "Company") is pleased to ...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nCALGARY, May 12 /CNW/ - Compton Petroleum Corporation ("Compton" or the\n"Company") is pleased to announce its financial and operating results for the\nquarter ended March 31, 2008.\n\n\nHIGHLIGHTS - FIRST QUARTER 2008\n\n- Drilled 99 wells with a 96% success rate.\n- Natural gas production of 170 mmcf/d, up 15% from first quarter 2007.\n- Total first quarter 2008 production averaged 33,274 boe/d.\n- Revenue of $162 million, up 15% from first quarter 2007.\n- Realized prices of $53.64/boe, up 14% from first quarter 2007.\n- Adjusted cash flow from operations of $69 million.\n- Capital expenditures of $101 million, before acquisitions and\n divestitures.\n\n\nFINANCIAL SUMMARY\n\n-------------------------------------------------------------------------\nThree Months Ended March 31\n ($000s, except per share amounts) 2008 2007 Change\n-------------------------------------------------------------------------\nGross revenue $162,433 $140,877 15%\nAdjusted cash flow from operations(1) $ 69,322 $ 68,783 1%\nPer share - basic(1) $ 0.54 $ 0.53 2%\n - diluted(1) $ 0.52 $ 0.52 0%\nAdjusted net earnings from operations(1) $ 17,404 $ 17,933 -3%\nPer share - basic(1) $ 0.13 $ 0.14 -7%\n - diluted(1) $ 0.13 $ 0.14 -7%\nNet earnings $ 1,619 $ 13,719 -88%\nPer share - basic $ 0.01 $ 0.11 -91%\n - diluted $ 0.01 $ 0.10 -90%\nCapital expenditures\n (before acquisitions & divestitures) $100,948 $106,059 -5%\n-------------------------------------------------------------------------\n(1) See cautionary statements at the beginning of Management's Discussion\n and Analysis.\n\n\nOPERATING SUMMARY\n\n-------------------------------------------------------------------------\nThree Months Ended March 31 2008 2007 Change\n-------------------------------------------------------------------------\nAverage production\n Natural gas (mmcf/d) 170 148 15%\n Liquids (bbls/d) 5,009 8,729 -43%\n-------------------------------------------------------------------------\n Total (boe/d) 33,274 33,316 0%\nRealized prices\n Natural gas ($/mcf) $ 7.48 $ 7.24 3%\n Liquids ($/bbl) 94.97 54.20 62%\n-------------------------------------------------------------------------\n Total ($/boe) $ 53.64 $ 46.98 14%\nField netback ($/boe) $ 41.06 $ 30.84 33%\n-------------------------------------------------------------------------\n\nOPERATIONS REVIEW\...