Business
Pine Cliff Energy Ltd. Announces Fourth Quarter and Annual Results
CALGARY, April 7 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or "the Company") (www.pinecliffene...
About this update from Pine Cliff Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, April 7 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or "the\nCompany") (www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce\nits financial and operational results for the three months and fiscal year\nended December 31, 2008.\n\n\nFINANCIAL AND OPERATIONAL\n\nAnnual Financial and Operational Highlights\n-------------------------------------------\n\n 2008 2007 2006\n -------------------------------------\nFinancial\nRevenue - Oil and Gas $ 707,012 $ 582,950 $ 661,100\nCash Flow from Operations (725,525) (784,938) (168,809)\n Per Share Basic and Diluted (0.02) (0.02) (0.01)\nNet Loss (7,541,868) (1,381,454) (1,014,605)\n Per Share Basic and Diluted (0.17) (0.04) (0.03)\nCapital Expenditures and Acquisitions 5,377,190 2,797,763 271,926\nTotal Assets 5,570,015 12,445,994 4,494,010\nWorking Capital 2,316,982 8,378,110 2,963,513\nShareholders' Equity 5,044,701 12,205,066 4,239,638\n-------------------------------------------------------------------------\nOperations\nOil and Liquids (barrels per day) 1 4 5\nNatural Gas (MCF per day) 228 198 195\n-------------------------------------------------------------------------\n\nQuarterly Financial and Operational Highlights\n----------------------------------------------\n\n 2008\n ------------------------------------------------\n 4th 3rd 2nd 1st\n\nFinancial\nRevenue - Oil and Gas $ 295,944 $ 129,537 $ 138,415 $ 143,116\nCash Flow from Operations (68,211) (332,184) (122,517) (202,613)\n Per Share Basic and\n Diluted (0.00) (0.01) (0.00) (0.01)\nNet Loss (6,423,691) (505,953) (295,111) (317,113)\n Per Share Basic and\n Diluted (0.14) (0.01) (0.01) (0.01)\nCapital Expenditures and\n Acquisitions 1,067,843 1,511,745 2,516,214 281,388\nTotal Assets 5,570,015 11,621,915 12,043,617 12,221,650\nWorking Capital 2,316,982 3,440,165 5,278,074 7,937,179\nShareholders' Equity 5,044,701 11,400,311 12,043,617 12,003,398\n-------------------------------------------------------------------------\nOperations\nOil and Liquids (barrels\n per day) 2 1 - 4\nNatural Gas (MCF per day) 453 146 142 168\n-------------------------------------------------------------------------\n\n\nFORWARD-LOOKING INFORMATION\n\n\nCertain statements contained in this press release include statements\nwhich contain words such as "anticipate", "could", "sh...