Preliminary results out today for Peruvian gas, oil and ethanol play, Maple Energy: http://www.stockopedia.com/news/announcement/MPLE/090611mple000621.htm
http://www.upstreamonline.com/live/article180487.eceFinancial Highlights:
- 2008 revenue from operations of US$95.3 million (2007: US$80.7 million).
- Gross profit of US$21.6 million (2007: US$21.5 million) for the year ending 31 December 2008.
- Adjusted EBITDA (as defined herein) of US$3.0 million (2007: US$8.8 million) for the year ending 31 December 2008.
Operational Highlights
- Oil production averaged 499 barrels per day ("bpd") during December 2008, an increase of 7% as compared to December 2007. The Pacaya oilfield in Block 31-E, reactivated in March 2008, contributed 100 bpd of this production.
- Sales from the Pucallpa Refinery in 2008 totaled 838,040 barrels of refined products, an average of 2,296 bpd.
- Maple commenced drilling operations in its 22-well development programme with the drilling and completion of two development wells in the Maquia oilfield in the fourth quarter of 2008.
- Acquisition of 225 kilometers of 2-D seismic data to identify the optimal drilling site for the Cashiboya Deep prospect in Block 31-E and also to provide additional geological information on the Santa Rosa prospect was completed in October 2008.
- Maple Rig 1, a 2,000 horsepower heli-transportable diesel-electric drilling rig, was substantially completed and assembled in December 2008.
- Maple continued developing and producing seed cane for the Ethanol Project at its La Huaca seed cane farm.
- Maple cleared approximately 3,000 hectares of its planned 10,600 hectare sugar cane plantation for the Ethanol Project.
- In December 2008, Maple substantially completed construction of a temporary water pump station to deliver water from the Chira River to its planned 400-hectare secondary seed cane farm located on the main estate of the Ethanol Project.
