Business
Yangarra Releases 3rd Quarter Results
Yangarra Releases 3rd Quarter Results
About this update from Yangarra Resources Ltd.
[{"type":"text","content":"\n\n\n\n Nov. 24, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, Nov. 24 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or "the Company") (TSX Venture: "YGR") announces it has\n released its unaudited interim consolidated financial statements and\n related management's discussion and analysis for the third quarter\n ended September 30, 2010.  The Company's financial statements can be\n viewed on SEDAR www.sedar.com or the Company's website at www.yangarra.ca.\n\n\nThe operational and financial highlights for the quarter are as follows:\n\n\nFor the three months ended September 30, 2010 petroleum and natural gas\n revenue was $1,821,333 on sales of 536 boe/d with an average price of\n $36.93/ boe.  Net royalties amounted to 5% of the gross sales, due to\n royalty rate on the wells the Company drilled within the three months\n and year.  Production costs over the quarter were $9.79 per boe and\n transportation costs were $1.44 per boe with field netbacks of $26.36\n per boe.\n\n\nCash flow from operations for the third quarter was $921,972 with a net\n loss of $166,794 and net working capital deficiency including bank debt\n of $7,691,402. Production volumes for the quarter were reduced due to\n plant turnarounds conducted during the month of September.\n\n\nYangarra has accumulated approximately $1.9 million of Drilling Royalty\n Credits which can used to reduce future royalty costs. Credits received\n under this program result...