Ripper Oil and Gas Inc. year end results

About this update from Nevada King Gold Corp

[{"type":"text","content":"\n\n\n\nTSX Venture Stock Symbol: RIP\n\n\nCALGARY, June 24 /CNW/ - Ripper Oil and Gas Inc. ("RIP") reports that for\nthe year ended March 31, 2009 oil and gas revenue, net of royalties, was\n$7,169,522 compared $6,210,088 to last year. Net income was $628,632 ($0.03\nper share), as compared to $644,084 ($0.03 per share) for the same period last\nyear. Cash flow from operations was $3,392,520 ($0.16 per share) compared to\n$2,748,134 ($0.15 per share) for the same period last year.\n\n\nProduction for the year averaged 426 barrels of oil equivalent per day (6\nmcf (equal sign) 1 boe) consisting of 95 bbls of oil and NGL's, and 1,987 mcf of natural\ngas per day compared to 402 boepd last year\n\n\nIn 2009 the corporation reduced its capital budget due to low natural gas\nprices. The corporation participated in 9 gross (4.74 net) Coal Bed Methane\nwells in the year ended March 31, 2009. At year end 3 gross (1.5 net) CBM\nwells were waiting on tie in.\n\n\nFourth quarter oil and gas revenue net of royalties was $1,147,097\ncompared to $1,361,832 in the third quarter ending December 31, 2008. Cash\nflow from operations for the fourth quarter was $445,846 ($0.02 per share), as\ncompared to $706,639 $0.03 per share) for the third quarter. The average sales\nprice for natural gas decreased by 25% to $5.18 mcf in the fourth quarter.\n\n\nThe Corporation currently has 20,768,909 shares outstanding.\n\n\nRipper Oil and Gas Inc. ("RIP") is a publicly traded company on The TSX\nVenture Exchange. Further information on the Corporation can be found on SEDAR\nat www.sedar.com.\n\n\nBOEs may be misleading, particularly if used in isolation. A BOE\nconversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion\nmethod primarily applicable at the burner tip and does not represent a value\nequivalency at the wellhead.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\ninformation contained herein.\n\n\n%SEDAR: 00015775E\n\n\n","length":2090,"tagName":"div"}]

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