(JEC) TSX
CALGARY, Feb. 14 /CNW/ - Jura Energy Corporation ("JEC") announced today its first quarter results for the period ended December 31, 2006.
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Consolidated Balance Sheets
(unaudited)
December 31, September 30,
2006 2006
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Assets
Current
Cash and short-term deposits $ 19,501,619 $ 21,591,496
Accounts receivable 200,619 364,664
Marketable securities, at fair value
(September 30, 2006: at cost) 58,687 33,901
Prepaid expenses and deposits 248,214 354,683
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20,009,139 22,344,744
Other assets 4,096,944 3,949,721
Property and equipment 47,009,443 45,449,458
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$ 71,115,526 $ 71,743,923
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Liabilities
Current
Accounts payable and accrued
liabilities $ 1,986,270 $ 2,309,461
Notes payable 650,000 863,426
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2,636,270 3,172,887
Minority interest in subsidiaries 833,298 833,298
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3,469,568 4,006,185
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Shareholders' Equity
Share capital 178,883,639 178,884,558
Contributed surplus 20,176,979 20,170,769
Deficit (131,414,660) (131,317,589)
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67,645,958 67,737,738
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$ 71,115,526 $ 71,743,923
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Consolidated Statements of Operations and Deficit
(unaudited)
Three months ended December 31,
2006 2005
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Revenue
Investment $ 207,093 $ 428,326
Unrealized gain on revaluation of
marketable securities 24,786 -
Gain on sale of assets - 529,399
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231,879 957,725
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Expenses
Rental - 4,371
General and administrative 698,147 1,700,365
Interest - 404
Recoveries on settlement of amounts
payable (369,624) -
Depletion, depreciation and
amortization 427 2,706
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328,950 1,707,846
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Net loss for the period (97,071) (750,121)
Deficit, beginning of period (131,317,589) (129,179,141)
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Deficit, end of period $ (131,414,660) $ (129,929,262)
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Loss per share - basic and diluted $ (0.001) $ (0.030)
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Consolidated Statements of Cash Flows
(unaudited)
Three months ended December 31,
2006 2005
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Operating activities
Net loss $ (97,071) $ (750,121)
Items not involving cash:
Depletion, depreciation and
amortization 427 2,706
Gain on sale of assets - (529,399)
Unrealized gain on revaluation of
marketable securities (24,786) -
Foreign exchange differences 28,451 (41,080)
Recoveries on settlement of amounts
payable (369,624) -
Stock based compensation 6,210 43,614
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Funds used in operations (456,393) (1,274,280)
Changes in other current assets and
liabilities:
Accounts receivable 164,045 1,842,508
Prepaid expenses and deposits 106,469 (22,802)
Loans and notes receivable - (25,375)
Restricted cash, net - (128,325)
Accounts payable and accrued
liabilities 241,175 555,855
Income taxes payable - (105,992)
Deferred revenue - (129,043)
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55,296 712,546
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Financing activities
Common share issuance cost (919) -
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Investing activities
Proceeds on sale on investments, net - 177,602
Loans receivable repayments, net of
advances - 220,325
Proceeds on sale of land - 493,942
Property and equipment (1,560,412) -
Change in accounts payable related
to capital expenditures (408,168) -
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(1,968,580) 891,869
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Effect of exchange rate changes on cash (175,674) 16,830
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Change in cash and short-term deposits (2,089,877) 1,621,245
Cash and short-term deposits, beginning
of year 21,591,496 13,979,830
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Cash and short-term deposits, end
of period $ 19,501,619 $ 15,601,075
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About Jura:
Jura Energy Corporation is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties with activities conducted exclusively in Pakistan. Jura is based in Calgary, Alberta, and listed on the Toronto Stock Exchange trading under the symbol JEC.
Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Corporation's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.