The company reported revenues of $6.9 million for the quarter ended March 31, 2008, a 10% increase, compared to revenues for the same period of 2007.
Oil and natural gas production revenues totaled over $6.4 million on sales of 824 million cubic feet of natural gas equivalent (mmcfe) for the quarter. This is a 13% increase over the first quarter of 2007.
Expenses totaled $8.1 million, a 15% increase from the same quarter in 2007. The primary driver of the change was a 45% increase in production and lease operating expenses.
William Deneau, chairman and CEO of Aurora Oil & Gas, said: As many are aware, we are undergoing a very important restructuring of our capital structure in the middle of a turbulent credit environment. Though our work is not quite complete, we are optimistic for a solid resolution that would allow our team to return to drilling our undeveloped properties.
