Not a tremendous year, reflected by the share price that dropped from above three dollars to well below a dollar, recently.
But the news is not that bad. The shares are back at a dollar and could gain more in the months to come (but, imo, not likely to reach $2.) as the price of oil and gas could regain some value.
Should be on SEDAR by tomorrow but is available at your broker site, probably.
At any rate, here"s part of the news:
Crocotta Energy earns $2.97-million in 2008
2009-03-26 06:49 ET - News Release
Mr. Robert Zakresky reports
CROCOTTA ANNOUNCES 2008 FINANCIAL AND OPERATING RESULTS
Crocotta Energy Inc. has released its financial and operating results for year ended Dec. 31, 2008.
Highlights:
- Increased proved plus probable reserves by 31 per cent to 7.1 million barrels of oil equivalent;
- Drilled a 100-per-cent working interest Montney horizontal well in the Dawson area of northeast British Columbia which was completed in the first quarter of 2009. The well initially flowed at over 5.0 million cubic feet per day with a final test rate on an extended flow at approximately 2.5 million cubic feet per day;
- Increased total bank credit facilities to $46.0-million, including an increase in the revolving demand portion to $40.0-million from $35.0-million;
- Completed acquisition of Black Bore Resources Ltd., by way of plan of arrangement, on October 31, 2008. The primary assets of Black Bore were Dawson Montney lands consisting of a five-section contiguous 100-per-cent working interest block of land, two wellbores that penetrate the Montney formation on the lands, access to the Doe Creek gas plant, and approximately 50 barrels of oil equivalent per day of producing assets;
- Completed acquisition of a private company on Nov. 5, 2008. The primary assets of the private company were a $9.7-million cash position, approximately 100 barrels of oil equivalent per day of producing assets and approximately $23.0-million in tax pools; and
- Raised gross proceeds of $9.0-million through private placement issuances of 4.0 million common shares on a flow-through basis, priced at $2.25 per share...."
go
