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Article: United States : Stream Oil & Gas Announces Operations Update and Q2 Results.(Financial report)
- Article from:
- TendersInfo
- Article date:
- August 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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)
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Byline: pinto03
Stream Oil & Gas Ltd. provides the following operations update and summary of financial results for its second quarter ended May 31, 2009:
Operations Update
Current average gross crude oil production is 470 bopd, 240 bopd net to Stream. Most of this production is sold to a local customer who pays in advance. Current average oil price received is about $40.00/bbl. Gas production is currently zero since the local refinery, Stream s only current gas consumer, has temporarily suspended operations due to maintenance and upgrades. Jointly with Albpetrol, the Company s gas customer, Stream continues to explore mitigation measures for ...