TGA reports
Posted: Thu Mar 08, 2012 8:58 am
complete report here
http://finance.yahoo.com/news/transglob ... 00116.html
..TransGlobe Energy Corporation Announces Fourth Quarter and Year-End 2011 Financial and Operating Results
Press Release: TransGlobe Energy Corporation – 1 hour 53 minutes ago
....
RELATED QUOTES.
.Symbol Price Change
TGL.TO 11.31 0.00
......CALGARY, ALBERTA--(Marketwire -03/08/12)- TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX: TGL.TO - News) (NASDAQ: TGA - News) is pleased to announce its financial and operating results for the three months and year ended December 31, 2011. All dollar values are expressed in United States dollars unless otherwise stated.
HIGHLIGHTS
2011
-- Production increased to 12,132 barrels of oil per day ("Bopd") from an average 9,960 Bopd in 2010, a growth rate of 22%;
-- Funds flow from operations increased to $120.0 million ($1.60/share diluted) based on average Brent oil pricing of $111.27 in 2011 from $75.5 million in 2010, a growth rate of 59%;
-- Net earnings increased to $81.4 million ($1.09/share diluted) including a $13.2 million ($0.18/share diluted) gain on the West Bakr acquisition. Net earnings increased 101% from $40.6 million in 2010;
-- Capital expenditures increased to $144.9 million (including $74.8 million for Acquisitions) from $65.3 million in 2010, an increase of 122%;
-- Year-end 2011 Proved plus Probable ("2P") reserves increased 45% to 44.2 MMBbl, representing a production replacement for the year of 412%;
-- Finding and development costs in 2011 of $7.07/Bbl (2P) with a recycle ratio of 3.71;
-- Finding, development and acquisition costs in 2011 of $5.24/Bbl (2P) with a recycle ratio of 5.01;
-- Raised gross proceeds of Cdn $75.0 million through an equity offering in February; and
-- Closed the West Bakr Acquisition on December 29, 2011.2012
-- 2012 Guidance:
-- Production of 16,000 to 20,000 Bopd, a 48% increase over 2011 using the mid-point of 18,000 Bopd;
-- Funds Flow of $133.0 million, based on an average Dated Brent oil price of $90.0/Bbl and using the mid-point production of 18,000 Bopd;
-- January production 17,104 Bopd; February production 16,770 Bopd; and
-- Raised gross proceeds of Cdn$97.8 million through a convertible debenture offering in February.
http://finance.yahoo.com/news/transglob ... 00116.html
..TransGlobe Energy Corporation Announces Fourth Quarter and Year-End 2011 Financial and Operating Results
Press Release: TransGlobe Energy Corporation – 1 hour 53 minutes ago
....
RELATED QUOTES.
.Symbol Price Change
TGL.TO 11.31 0.00
......CALGARY, ALBERTA--(Marketwire -03/08/12)- TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX: TGL.TO - News) (NASDAQ: TGA - News) is pleased to announce its financial and operating results for the three months and year ended December 31, 2011. All dollar values are expressed in United States dollars unless otherwise stated.
HIGHLIGHTS
2011
-- Production increased to 12,132 barrels of oil per day ("Bopd") from an average 9,960 Bopd in 2010, a growth rate of 22%;
-- Funds flow from operations increased to $120.0 million ($1.60/share diluted) based on average Brent oil pricing of $111.27 in 2011 from $75.5 million in 2010, a growth rate of 59%;
-- Net earnings increased to $81.4 million ($1.09/share diluted) including a $13.2 million ($0.18/share diluted) gain on the West Bakr acquisition. Net earnings increased 101% from $40.6 million in 2010;
-- Capital expenditures increased to $144.9 million (including $74.8 million for Acquisitions) from $65.3 million in 2010, an increase of 122%;
-- Year-end 2011 Proved plus Probable ("2P") reserves increased 45% to 44.2 MMBbl, representing a production replacement for the year of 412%;
-- Finding and development costs in 2011 of $7.07/Bbl (2P) with a recycle ratio of 3.71;
-- Finding, development and acquisition costs in 2011 of $5.24/Bbl (2P) with a recycle ratio of 5.01;
-- Raised gross proceeds of Cdn $75.0 million through an equity offering in February; and
-- Closed the West Bakr Acquisition on December 29, 2011.2012
-- 2012 Guidance:
-- Production of 16,000 to 20,000 Bopd, a 48% increase over 2011 using the mid-point of 18,000 Bopd;
-- Funds Flow of $133.0 million, based on an average Dated Brent oil price of $90.0/Bbl and using the mid-point production of 18,000 Bopd;
-- January production 17,104 Bopd; February production 16,770 Bopd; and
-- Raised gross proceeds of Cdn$97.8 million through a convertible debenture offering in February.