Three
Months Ended March 31,
|
|||||||
(Unaudited
- in thousands of dollars)
|
2007
|
2006
|
|||||
Revenues
|
$
|
29,131
|
$
|
31,327
|
|||
Operating
costs and expenses
|
16,830
|
6,110
|
|||||
Operating
Income
|
12,301
|
25,127
|
|||||
Other
Income
|
676
|
114
|
|||||
Income
tax expense
|
(7,192
|
)
|
(12,120
|
)
|
|||
Loss
from discontinued operations
|
(27
|
)
|
(715
|
)
|
|||
Minority
Interest in earnings of subsidiaries
|
(1,203
|
)
|
(1,432
|
)
|
|||
Net
Income
|
$
|
4,555
|
$
|
10,974
|
|||
Basic
Income per Common Share
|
$
|
0.08
|
$
|
0.19
|
|||
Diluted
Income per Common Share
|
$
|
0.08
|
$
|
0.18
|
Three
Months Ended March 31,
|
|||||||
(Unaudited)
|
2007
|
2006
|
|||||
Net
oil and gas sales (MBOE)
|
511
|
512
|
|||||
Average
price ($/bbl)
|
$
|
57.03
|
$
|
60.93
|
|||
Production
costs ($/bbl)
|
$
|
8.35
|
$
|
6.48
|
|||
Depletion
costs ($/bbl)
|
$
|
9.13
|
$
|
3.53
|
|||
General
and administrative costs ($/bbl)
|
$
|
5.57
|
$
|
1.51
|
|||
Debt/Proved
reserves ($/BOE)
|
$
|
0.91
|
$
|
0.68
|
|||
Capital
Expenditures ($thousands)
|
2,129
|
1,855
|
|||||
Debt/Capitalization
($/$)
|
4
|
%
|
6
|
%
|
|||
Cash
and cash equivalents ($thousands)
|
$
|
54,163
|
$
|
52,999
|
|||
Working
capital ($thousands)
|
$
|
65,796
|
$
|
63,881
|
|||
Total
long term debt ($thousands)
|
$
|
5,000
|
$
|
5,000
|
Three
months ended
|
|||||||
Item
|
March
31, 2007
|
|
March
31, 2006
|
||||
Basic
weighted average common stock issued and outstanding
|
59,039,674
|
57,481,783
|
|||||
Dilutive
options
|
1,376,962
|
2,691,326
|
|||||
Total
diluted shares
|
60,416,636
|
60,173,109
|