Replies to post #41 on Compton Petroleum Corporation (CMZ)

[itsme123]

Great News!!!!!

Summary of Results:

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- Cash flow was $20.4 million or $0.08 per diluted share
- Operating loss was $4.8 million or $0.02 per diluted share
- Net earnings were $17.0 million or $0.06 per diluted share
- Capital expenditures were $14.5 million, before acquisitions and
divestitures
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Achievements:

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- Strengthened capital structure through further debt reduction
compared to December 31, 2009:
- Bank debt decreased by 15% to $90.7 million
- Total bank debt and senior notes decreased by 5% to $539.0 million
- Average production was 19,411 boe/d, which was comparable to 19,351
boe/d for the fourth quarter of 2009
- Reduced internal cost structures through focused cost control
initiatives as compared to the first quarter of 2009:
- Operating expenses decreased by 15% or $3.3 million
- Administrative expenses decreased by 8% or $0.5 million
- Reduced operating costs per boe to $10.53 per boe versus $11.29 per
boe for 2009 (full year average), despite production declines
- Improved average initial production rates of horizontal multi-stage
fractured wells at Niton while reducing drilling costs
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Sentiment : Strong Buy