Business
Orca Exploration announces its result for the quarter ended 30 September 2009
Orca Exploration announces its result for the quarter ended 30 September 2009
About this update from Orca Energy Group Inc. Class B
[{"type":"text","content":"\n\n\n\nNov. 20, 2009 (Canada NewsWire Group) -- TORTOLA, British Virgin Islands, Nov. 20 /CNW/ -- Orca Exploration Group Inc (\"Orca Exploration\" or the \"Company\") announces its results for the quarter ended 30 September 2009.Financial and Operating Highlights-------------------------------------------------------------------------Three months ended Nine months ended30-Sep 30-Sep 30-Sep 30-Sep2009 2008 Change 2009 2008 Change-------------------------------------------------------------------------Financial (US$except whereotherwise stated)Revenue 7,536 7,301 3% 17,480 17,411 0%Profit/(loss)before taxation 2,682 1,609 67% 4,083 (7,831) n/mOperating netback(US$/mcf) 2.17 2.79 (22%) 2.17 2.71 (20%)Cash and cashequivalents 9,703 11,178 (13%) 9,703 11,178 (13%)Working capital 12,147 8,705 40% 12,147 8,705 40%Shareholders'equity 67,159 64,142 5% 67,159 64,142 5%Profit/(loss) pershare - basic anddiluted (US$) 0.05 0.03 67% 0.06 (0.32) n/mFunds fromoperations beforeworking capitalchanges 4,247 3,773 13% 8,228 7,783 6%Funds per sharefrom operationsbefore workingcapital changes- basic (US$) 0.14 0.13 8% 0.28 0.26 8%Funds per sharefrom operationsbefore workingcapital changes- diluted (US$) 0.14 0.12 17% 0.27 0.25 8%Net cash flows fromoperatingactivities 1,959 363 440% 5,591 5,765 (3%)Net cash flows pershare fromoperatingactivities - basic(US$) 0.07 0.01 600% 0.19 0.19 0%Net cash flows pershare fromoperatingactivities -diluted (US$) 0.06 0.01 500% 0.18 0.19 (5%)-------------------------------------------------------------------------Outstanding Shares('000)Class A shares 1,751 1,751 0% 1,751 1,751 0%Class B shares 27,770 27,863 0% 27,770 27,863 0%Options 2,797 2,847 (2%) 2,797 2,847 (2%)-------------------------------------------------------------------------OperatingAdditional Gas sold(MMcf) - industrial 581 425 37% 1,554 1,083 43%Additional Gas sold(MMcf) - power 2,493 2,097 19% 5,756 5,036 14%Average price permcf (US$) -industrial 9.01 13.29 (32%) 7.96 12.67 (37%)Average price permcf (US$) - power 2.41 2.41 0% 2.39 2.37 1%-------------------------------------------------------------------------Highlights- Increased profit before taxation by 67% to US$2.7 million for thequarter (Q3 2008: US$1.6 million).- Increased funds from operations before working capital changes by13% to US$4.2 million for the quarter (Q3 2008: US$3.8 million).- ...