(Unaudited - in thousands of dollars) |
Three
Months Ended Sept. 30,
|
Nine
Months Ended Sept. 30,
|
|||||||||||
2007
|
2006
|
2007
|
2006
|
||||||||||
Revenues | 34,828 | 25,640 |
88,087
|
82,452
|
|||||||||
Operating costs and expenses | 11,071 | 5,352 | 36,841 | 17,009 | |||||||||
Operating Income (Loss) |
23,757
|
20,288
|
51,246
|
65,443 | |||||||||
Other Income (Expense) | 992 | 649 | 2,132 | 1,243 | |||||||||
Income tax expense | (14,747 | ) | (6,280 | ) | (33,268 | ) | (27,077 | ) | |||||
Gain (loss) from discontinued operations | -- | 488 | (51 | ) | (241 | ) | |||||||
Minority Interest in earnings of subsidiaries | (1,206 | ) | (1,555 | ) | (2,991 | ) | (4,314 | ) | |||||
Net Income | 8,796 | 13,590 | 17,068 | 35,054 | |||||||||
Basic Income per Common Share | $ | 0.15 | $ | 0.23 | $ | 0.29 | $ | 0.61 | |||||
Diluted Income per Common Share |
$
|
0.15
|
$
|
0.22
|
$
|
0.28
|
$
|
0.58
|
Three
Months Ended September 30,
|
Nine
months Ended September 30,
|
||||||||||||
(Unaudited)
|
2007
|
2006
|
2007
|
2006
|
|||||||||
Net
oil and gas sales (MBOE)
|
472
|
391
|
1,334
|
1,278
|
|||||||||
Average
price ($/bbl)
|
$
|
73.79
|
$
|
65.50
|
$
|
66.05
|
$
|
64.54
|
|||||
Production
costs ($/bbl)
|
$
|
8.08
|
$
|
7.86
|
$
|
8.29
|
$
|
7.31
|
|||||
Depletion
costs ($/bbl)
|
$
|
10.19
|
$
|
4.51
|
$
|
10.15
|
$
|
3.96
|
|||||
General
and administrative costs ($/bbl)
|
$
|
3.81
|
$ |
(0.02
|
)
|
$
|
4.58
|
$
|
0.88
|
||||
Capital
Expenditures ($thousands)
|
1,939
|
9,786
|
9,711
|
18,263
|
|||||||||
Debt/Proved
reserves ($/BOE)
|
-
|
-
|
$
|
1.07
|
$
|
0.76
|
|||||||
Debt/Capitalization
($/$)
|
-
|
-
|
$
|
0.04
|
$
|
0.04
|
|||||||
Cash
and cash equivalents ($thousands)
|
-
|
-
|
70,236
|
69,678
|
|||||||||
Working
capital ($thousands)
|
-
|
-
|
84,766
|
79,167
|
|||||||||
Total
long term debt ($thousands)
|
-
|
-
|
5,000
|
5,000
|
Item
|
Three
months ended
|
Nine
months ended
|
|||||||||||
Sept.
30, 2007
|
Sept.
30, 2006
|
Sept.
30, 2007
|
Sept.
30, 2006
|
||||||||||
Basic
weighted average common stock
issued and outstanding
|
59,191,555
|
58,403,727
|
59,118,995
|
57,905,161
|
|||||||||
Dilutive
options
|
889,957
|
2,381,936
|
1,156,223
|
2,446,493
|
|||||||||
Total
diluted shares
|
60,081,511
|
60,785,663
|
60,275,218
|
60,351,654
|