| Business Summary | | Canadian
88
Energy
Corp.
is
a
gas
and
oil
exploration
and
development
company
that
has
a
land
base
and
producing
assets
in
one
of
the
most
active
natural
gas
regions
of
the
Western
Canadian
basin.
The
Company
also
has
a
50%
interest
in
four
land
blocks
offshore
the
Nova
Scotia
trough.
Ninety-eight
percent
of
the
Company's
reserves
are
natural
gas
and
associated
liquids.
During
2000,
the
Company's
Western
Canadian
assets
contributed
average
volumes
of
25.9
mmcf/d
(million
cubic
feet
per
day)
of
sales
gas
and
748
b/d
(barrels
per
day)
of
oil
and
NGLs
(natural
gas
liquids),
equaling
5,062
boe/d
(barrels
of
oil
equivalent
per
day)
or
33%
of
the
Company's
total
production.
Canadian
88
holds
four
offshore
exploration
licenses
totaling
1.5
million
acres,
located
200
kilometers
south
of
Halifax.
The
area
has
large
oil
and
natural
gas
reserves
in
turbidite
sands
beneath
the
Scotian
Slope
in
500
to
3000
meters
of
water. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | EEE
is
involved
in
the
application
of
deep
conventional
and
horizontal
drilling
techniques
in
the
West
Central
Alberta
Foothills
corridor.
EEE
is
also
involved
in
the
application
of
large
scale
3-D
seismic
technology.
For
the
six
months
ended
6/30/01,
revenues
totalled
C$80.4
million,
up
from
C$39.6
million.
Net
income
totalled
C$19.4
million,
vs.
a
loss
of
C$6.7
million.
Revenues
reflect
an
increase
in
oil
and
gas
prices.
Net
income
also
reflects
higher
gross
margins. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Joe Pritchett, III | Pres,
CEO | Sobeil Asgarpour, Ph.D. | COO | Donald Gardner | Sr.
VP, CFO, Director | Leigh Bilton | VP-Operations | G. Robin Gill | VP
- Engineering |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|