Business
/C O R R E C T I O N from Source -- BNK Petroleum Inc./
/C O R R E C T I O N from Source -- BNK Petroleum Inc./
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\n Nov. 4, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n >\n\n\nCALGARY, Nov. 3 /CNW/ -\n\nOVERVIEW\n\n\n >\n\n"Excellent progress has been made on our European concessions during the quarter. Six 2D seismic lines were acquired and interpreted on our Baltic Basin Project. The seismic lines were acquired to avoid encountering faults in our test wells so that all targeted intervals can be properly evaluated. Tendering for our first two wells is now nearly complete so that our 1st well, the Wytowno No. 1 can be spudded near the end of November. In Germany our geologic work continued with our team making excellent progress towards further high-grading the concessions and achieving our goal of being able to pursue farm down opportunities in the second quarter of 2011. Our team has also been busy working on additional concessions in other basins within Europe that we hope to be awarded in the future which would further diversify our projects.\nOur operating results in the U.S. also continued to improve and were characterized by higher revenues resulting from improved product pricing on increased production over last year with increased investment in property, plant and equipment. The field work done in the third quarter has resulted in our net production increasing further to over 1,300 barrels of oil equivalent per day. The third quarter loss of $30,000 was only 1% of last year's third quarter loss of $3.2 million. For the nine month period the loss was $611,000, a 94%...