|
|
Madison Announces Release of Annual Financial Statements and Provides Operational Update.
- Article from:
-
Canadian Corporate News
- Article date:
-
April 24, 2008
|
Copyright informationCOPYRIGHT 2008 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CALGARY, ALBERTA, Apr 24, 2008 (Marketwire via COMTEX) -- Madison Energy Corp (TSX VENTURE:MDC) (the "Company") announces the release of its audited Financial Statements for the year ended December 31, 2007 and accompanying Management Discussion and Analysis.
Financial Highlights for 2007
- Revenue (less royalties) $2,960,950, an increase of 25% over 2006.
- Revenue net of Operating Expenses $2,056,101, an increase of 26% over 2006.
- Fourth quarter production 174 BOE/day an increase of 54% from fourth quarter of 2006.
- Annual production 154 BOE/day an increase of 43% from 2006.
- Production consisted of 30% Gas and 70% Light Oil and associated Gas ...