Three
Months Ended
|
Six
Months Ended
|
||||||||||||
June
30,
|
June
30,
|
||||||||||||
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||||
Revenues
|
24,128
|
25,575
|
53,259
|
56,812
|
|||||||||
Operating
costs and expenses
|
8,940
|
5,546
|
25,770
|
11,656
|
|||||||||
Operating
Income (Loss)
|
15,218
|
20,029
|
27,489
|
45,156
|
|||||||||
Other
Income (Expense)
|
464
|
480
|
1,140
|
594
|
|||||||||
Income
tax expense
|
(11,329
|
)
|
(8,677
|
)
|
(18,521
|
)
|
(20,797
|
)
|
|||||
Loss
from discontinued operations
|
(24
|
)
|
(14
|
)
|
(51
|
)
|
(729
|
)
|
|||||
Minority
Interest in earnings of subsidiaries
|
(582
|
)
|
(1,329
|
)
|
(1,785
|
)
|
(2,760
|
)
|
|||||
Net
Income
|
3,717
|
10,489
|
8,272
|
21,464
|
|||||||||
Basic
Income per Common Share
|
$
|
0.06
|
$
|
0.18
|
$
|
0.14
|
$
|
0.37
|
|||||
Diluted
Income per Common Share
|
$
|
0.06
|
$
|
0.17
|
$
|
0.14
|
$
|
0.36
|
Three
Months Ended
|
Six
months Ended
|
||||||||||||
|
|
June
30,
|
June
30,
|
||||||||||
(Unaudited)
|
|
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||
Net
oil and gas sales (MBOE)
|
351
|
374
|
861
|
886
|
|||||||||
Average
price ($/bbl)
|
$
|
68.77
|
$
|
68.42
|
$
|
61.81
|
$
|
64.15
|
|||||
Production
costs ($/bbl)
|
$
|
8.48
|
$
|
7.87
|
$
|
8.41
|
$
|
7.07
|
|||||
Depletion
costs ($/bbl)
|
$
|
11.59
|
$
|
3.88
|
$
|
10.14
|
$
|
3.72
|
|||||
General
and administrative costs ($/bbl)
|
$
|
4.19
|
$
|
1.17
|
$
|
5.01
|
$
|
1.28
|
|||||
Capital
Expenditures ($thousands)
|
1,740
|
5,059
|
7,772
|
8,477
|
|||||||||
Debt/Proved
reserves ($/BOE)
|
-
|
-
|
$
|
0.72
|
$
|
0.72
|
|||||||
Debt/Capitalization
($/$)
|
-
|
-
|
$
|
0.04
|
$
|
0.05
|
|||||||
Cash
and cash equivalents ($thousands)
|
-
|
-
|
72,404
|
65,955
|
|||||||||
Working
capital ($thousands)
|
-
|
-
|
72,736
|
72,720
|
|||||||||
Total
long term debt ($thousands)
|
-
|
-
|
5,000
|
5,000
|
Three
months ended
|
Six
months ended
|
||||||||||||
Item
|
June
30, 2007
|
|
June
30, 2006
|
|
June
30, 2007
|
|
June
30, 2006
|
||||||
|
|||||||||||||
Basic
weighted average common stock issued and outstanding
|
59,124,086
|
57,819,842
|
59,082,113
|
57,651,747
|
|||||||||
Dilutive
options
|
1,156,992
|
2,557,793
|
1,273,363
|
2,543,002
|
|||||||||
Total
diluted shares
|
60,281,078
|
60,377,635
|
60,355,476
|
60,194,749
|