Pjx Resources Inc. press release
Ripper Oil And Gas Inc. Releases First Half Results
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TSX VENTURE STOCK SYMBOL: RIP
CALGARY, Nov. 29 /CNW/ - RIPPER OIL AND GAS INC. ("RIP") reports that for the six-month period ended September 30, 2007, oil and gas revenue, net of royalties, was $2,432,302 compared to $2,642,457 last year due to lower natural gas prices and higher royalties. Six month cash flow from operations was $953,896 ($0.06 per share) compared to $1,504,437 ($0.10 per share) for the same period last year due to decreased natural gas prices and increased production and general and administrative expenses. Net income for the period decreased to $207,170 ($0.01 per share), from $445,687 ($0.03 per share) for the first half last year.
Production for the six months averaged 348 barrels of oil equivalent per day (boepd) (6 mcf (equal sign) 1 barrel of oil) comprised of average daily production of 104 barrels of oil and natural gas liquids and 1,463 mcf of gas. This compares to 339 boepd for the first half last year. The current years' six months production includes production from the date of acquisition of a company acquired at the end of July. Exit production at the end of the quarter was approximately 390 boepd. Current production capability before production behind pipe is in excess of 450 boepd.
The Corporation has 19,993,909 shares outstanding.
Ripper Oil and Gas Inc. ("RIP") is a publicly traded company on The TSX Venture Exchange. Further information is available on SEDAR at www.sedar.com.
BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained herein.
%SEDAR: 00015775E