Business
BNK Petroleum Inc. Announces 1st Quarter 2013 Results
TSX ticker symbol; BKX CALGARY, May 14, 2013 /CNW/ - All amounts are in U.S. Dollars unle...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\n\n\nTSX ticker symbol; BKX\n\n\nCALGARY, May 14, 2013 /CNW/ - All amounts are in U.S. Dollars unless\n otherwise indicated:\n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n     \n\n\n\n\n \n\n\n2013\n\n\n \n\n\n2012\n\n\n \n\n\n%\n\n\n\n\nEarnings (Loss):\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n$ Thousands\n\n\n$(5,320)\n\n\n \n\n\n$(3,520)\n\n\n \n\n\nL\n\n\n\n\n$ per common share assuming dilution\n\n\n           $(0.04)\n\n\n \n\n\n           $(0.02)\n\n\n \n\n\nL\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nCapital Expenditures\n\n\n$2,492\n\n\n \n\n\n$10,759\n\n\n \n\n\n(77)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nAverage production per day (Boepd)\n\n\n1,674\n\n\n \n\n\n1,654\n\n\n \n\n\n1\n\n\n\n\nAverage Product Price per Barrel\n\n\n$34.69\n\n\n \n\n\n$38.55\n\n\n \n\n\n(10)\n\n\n\n\nAverage Netback per Barrel\n\n\n$18.89\n\n\n \n\n\n$18.08\n\n\n \n\n\n4\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n3/31/2013\n\n\n \n\n\n12/31/2012\n\n\n \n\n\n3/31/2012\n\n\n\n\nCash and Cash Equivalents\n\n\n$3,100\n\n\n \n\n\n$2,836\n\n\n \n\n\n$30,582\n\n\n\n\nWorking Capital\n\n\n$1,773\n\n\n \n\n\n$471\n\n\n \n\n\n$26,976\n\n\n\n\n\n\n\nBNK's President and CEO Wolf Regener commented:\n\n\n\"With the close of the sale of our Tishomingo field assets, which\n excluded the Caney and Upper Sycamore formations, on April 19th, the\n first quarter results reflect our last quarter of production from the\n Woodford shale formation.  With the $147.1 million proceeds from the\n sale, the Company is well positioned to maximize what we believe will\n be outstanding opportunities in the oil-rich Caney and upper Sycamore\n formations and to pursue our exciting European projects with or without\n partners.  The knowledge gained from our successful first Caney test\n wells is being utilized in the Caney wells we are now drilling and\n completing.  We have finished drilling our second horizontal Caney\n well, the Barnes 6-3...