TSX Venture Stock Symbol: RIP
CALGARY, June 24 /CNW/ - Ripper Oil and Gas Inc. ("RIP") reports that for
the year ended March 31, 2009 oil and gas revenue, net of royalties, was
$7,169,522 compared $6,210,088 to last year. Net income was $628,632 ($0.03
per share), as compared to $644,084 ($0.03 per share) for the same period last
year. Cash flow from operations was $3,392,520 ($0.16 per share) compared to
$2,748,134 ($0.15 per share) for the same period last year.
Production for the year averaged 426 barrels of oil equivalent per day (6
mcf = 1 boe) consisting of 95 bbls of oil and NGL's, and 1,987 mcf of natural
gas per day compared to 402 boepd last year
In 2009 the corporation reduced its capital budget due to low natural gas
prices. The corporation participated in 9 gross (4.74 net) Coal Bed Methane
wells in the year ended March 31, 2009. At year end 3 gross (1.5 net) CBM
wells were waiting on tie in.
Fourth quarter oil and gas revenue net of royalties was $1,147,097
compared to $1,361,832 in the third quarter ending December 31, 2008. Cash
flow from operations for the fourth quarter was $445,846 ($0.02 per share), as
compared to $706,639 $0.03 per share) for the third quarter. The average sales
price for natural gas decreased by 25% to $5.18 mcf in the fourth quarter.
The Corporation currently has 20,768,909 shares outstanding.
Ripper Oil and Gas Inc. ("RIP") is a publicly traded company on The TSX
Venture Exchange. Further information on the Corporation can be found on SEDAR
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.
For further information:
For further information: Mr. R.G. (Jerry) Ball, President and Chief
Executive Officer at (403) 662-2020 or Fax (403) 662-2029, Ripper Oil and Gas
Inc., 1150, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1