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Article: Arsenal Energy Releases Q3 Results.(Financial report)
- Article from:
- Marketwire Canada
- Article date:
- November 10, 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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CALGARY, ALBERTA, Nov 10, 2009 (Marketwire via COMTEX) -- Arsenal Energy Inc. ("Arsenal") (TSX:AEI) (FRANKFURT:A1E) is pleased to release its 2009 Q3 results. Oil price increases through the summer resulted in improving cash flows allowing Arsenal to continue its North Dakota Bakken development program with the drilling of two new wells. In addition, an exploration well to test the underlying Three Forks formation was drilled and successfully completed. With oil prices near $80, Arsenal's portfolio of exploration and development projects are very economic and the company has the cash flow to fund them.
Financial
Arsenal had 2009 Q3 funds from operations ...