The company reported income before income taxes for the first quarter of 2008 of $1.3 million, compared to a loss before income taxes of $2.5 million for the same quarter of 2007.
For the first quarter of 2008, the company reported revenues of 45 million, compared to revenue of $4.5 million in the same quarter of 2007.
Production for the first quarter of 2008 was 4.8 billion cubic feet equivalent (bcfe) of natural gas equivalents, or 52,570 million cubic feet equivalent (mcfe) per day, compared with production of 542,818mcfe, or 6,031mcfe per day, in the same quarter of 2007.
Average prices realized in the first quarter of 2008 were $78.62 per barrel, $8.39 per million cubic feet (mcf), $57.18 per barrel and $9.39 per mcfe for oil, natural gas, natural gas liquids and natural gas equivalents, respectively.
