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Petrolifera Petroleum reports Q2 2008 results and schedules conference call August 7, 2008, 9:00 A.M. MT
CALGARY, Aug. 6 /CNW/ - Petrolifera Petroleum Limited (TSX: PDP) reports that it continued to sho...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 6 /CNW/ - Petrolifera Petroleum Limited (TSX: PDP) reports\nthat it continued to show steady progress during the second quarter and first\nhalf of 2008. Cash flow from operations before working capital changes ("cash\nflow")(1) rose for the third successive quarter, including a 13 percent\nincrease in the second quarter 2008 compared to the prior quarter this year.\nWorking capital was improved and profitability was expanded during this period\nas well.\n\n\nHighlights are as follows:\n\n- Sales on a barrel of oil equivalent basis ("boe") rose for the third\n successive quarter, with second quarter 2008 levels up 15 percent over\n fourth quarter 2007 levels\n- Crude oil and natural gas prices both increased during the second\n quarter 2008\n- Puesto Morales waterflood well underway, with measurable response\n beginning to materialize\n- Two new pool discoveries made at the PME x-1002 well ("Loma Montosa\n Two zone") and at the directionally-drilled PM x-1082 well, a Sierras\n Blancas discovery; offsets are drilling or planned\n- Balance sheet strengthened with $40 million bought deal equity\n financing completed in second quarter 2008\n- Long-term credit facility expanded to US$70 million and progress made\n on asset-backed commercial paper ("ABCP") investments\n\n\nThese Q2 2008 results will be subject to a Conference Call event at\n9:00 a.m. MT August 7, 2008. To listen to or participate in the live\nconference call please dial either (416) 644-3428 or (800) 587-1893. A replay\nof the event will be available from August 7, 2008 at 11:00 a.m. MT until\nAugust 15, 2008 at 11:59 p.m. MT. To listen to the replay please dial either\n(416) 640-1917 or 877-289-8525 and enter the passcode 21278536 followed by the\npound sign.\n\n\nSummary Results\n-------------------------------------------------------------------------\n Three months ended June 30 Six months ended June 30\n-------------------------------------------------------------------------\n % %\n 2008 2007 Change 2008 2007 Change\n-------------------------------------------------------------------------\nFINANCIAL ($000 except\n per share amounts)\nTotal revenue 33,622 28,105 20 60,789 75,227 (19)\nCash flow from\n operations before\n working capital\n changes(1) 13,485 14,504 (7) 25,387 39,119 (35)\n Per share, bas...