| | Business Summary | | Abacan
Resource
Corporation
is
currently
engaged
in
the
exploration
oil
and
gas
properties
located
in
West
Africa.
To
date,
the
Company's
operations
have
included
the
acquisition
of
Participating
Interests
in
concession
blocks
located
in
both
Nigeria
and
Benin
and
the
exploration,
development
and
production
of
oil
and
condensate
from
concession
blocks
located
in
Nigeria.
At
the
end
of
the
most
recently
completed
fiscal
year,
the
Company
held
Participating
Interests
in
six
concession
blocks,
two
of
which
were
located
in
the
Niger
Delta
and
four
of
which
were
located
in
the
Benin
Basin. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Abacan
is
engaged
in
the
acquisition
and
exploration
of
oil
and
gas
properties
located
primarily
in
the
Niger
Delta
and
Benin
Basin
regions.
For
the
nine
months
ended
9/30/99,
revenues
totalled
$523
thousand,
down
from
$12.4
million.
Net
loss
totalled
$3.9
million
vs.
an
income
of
$17.2
million.
Results
reflect
the
loss
of
production
revenues
due
to
the
discontinuation
of
the
hydrocarbon
production
operations
that
resulted
from
the
sale
of
the
Ima
Field
in
June
1998. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY1998 Pay | |
| Timothy Stephens, 46
Chairman,
Pres and CEO | $200K | | Dollar amounts are as of 31-Dec-1998 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/a/abacq.ob.gif)