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Article: Petrominerales Records Net Income of US$26.2 Million in the Third Quarter.
- Article from:
- Marketwire Canada
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 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)
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BOGOTA, COLOMBIA, Nov 4, 2009 (Marketwire via COMTEX) -- Petrominerales Ltd. ("Petrominerales" or the "Company") (TSX:PMG), a 67% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), is pleased to announce third quarter financial and operating results highlighted by a 73% increase in production to 21,546 barrels of oil per day ("bopd"), funds flow from operations of US$71.7 million (US$0.71 per diluted share) and net income of US$26.2 million (US$0.26 per diluted share). Production has continued to increase in October, averaging 27,047 bopd. We have also recently announced exploration successes with our first wells on our Guatiquia and Rio Ariari Blocks.
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