Business
Lochaird Energy Inc. Quarter end September 30, 2008 Financial Results, Record Revenue
Lochaird Energy Inc. Quarter end September 30, 2008 Financial Results, Record Revenue
About this update from Reconnaissance Energy Africa Ltd.
[{"type":"text","content":"Lochaird Energy Inc. Quarter end September 30, 2008 Financial Results, Record Revenue\n\n\n\nLochaird Energy Inc. Quarter end September 30, 2008 Financial Results, Record Revenue \n\nCalgary, Alberta CANADA, December 05, 2008 /FSC/ - Lochaird Energy Inc. (LEN - TSX Venture), \n\nDuring the third quarter of 2008 a horizontal well was drilled by a third party operator, with Lochaird holding a 10% interest. The well covered 450 metres of pay and may have confirmed a new pool with an additional 100 metres of pay.\n\nTotal revenue has set new record highs for the quarter and year to date based upon higher commodity prices and higher oil production. \n\n\nSummary of Quarterly Financial and Operational Results\n\n-***-\n Three months Three months Nine months Nine months\n ended September ended September ended September ended September\n 30, 2008 30, 2007 30, 2008 30, 2007\n\n\nTotal sales ? products $ \n 225,874 209,399 731,681 578,077\nRoyalties $ \n 42,595 19,708 93,641 61,268\nOperating expenses $ \n 94,498 78,455 233,316 185,911\nCash flow $ \n 88,781 111,236 404,724 &...