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Timothy Smith

05/04/13 3:59 PM

#98 RE: rawman #97

@Raw - is there a development plan or acquisition plan presented by management to help establish the catalyst to a potential 25-50% move in the valuation?

Timothy Smith

05/18/13 3:23 AM

#104 RE: rawman #97

$ANFC - Black Ridge Oil & Gas Financial Highlights

Adjusted EBITDA increased to $982 thousand, compared to a loss of $(30) thousand in the first quarter of 2012

Total revenues increased 187% from the first quarter of 2012 to $1.91 million and 13% compared to the fourth quarter of 2012

Realized oil price was $90.70 per barrel in the first quarter of 2013 compared to $85.43 and $85.15 in the first quarter of 2012 and the fourth quarter of 2012, respectively

General and administrative expenses decreased 15% compared to the first quarter of 2012, representing a 69% decrease on a per Boe basis

Net income reached $314 thousand compared to a net loss of $(761) thousand in the first quarter of 2012.