Contango Oil & Gas, an independent natural gas and oil company, has reported a net income of $256.91 million, or $14.88 per diluted share, for the fiscal year ended June 30, 2008, compared to a net loss of $2.69 million, or $0.21 per diluted share, for fiscal 2007.
The company reported natural gas and oil sales from continuing operations for the fiscal year ended June 30, 2008 of approximately $116.5 million, compared to $14.1 million for fiscal 2007.
For the three months ended June 30, 2008, natural gas and oil sales from continuing operations were approximately $70.2 million, up from $8 million for the same period of 2007.
Contango had net income attributable to common stock of approximately $26 million, or $1.58 per basic share and $1.52 per diluted share, for the fourth quarter of 2008, compared to a net loss attributable to common stock for the three months ended June 30, 2007 of approximately $0.5 million, or $0.03 per basic and diluted share.