|
Costs Incurred in Oil and Gas Property Acquisition,
<br />Exploration and Development Activities:
<br />Costs incurred in oil and gas property acyui;ition,
<br />exploration and development activities (or the years ended
<br />dune 30, 1986, 1985 and 1984 are set forth below:
<br /> 1966 1965 1964
<br />AQ1UUIh00 Cntit):
<br />Unproven:
<br />United Slates $ 106,004 $ ffi(I,a 73 $1,57i.Ih0
<br />Proven:
<br />United Slates 177,235 510,146 -
<br /> $ 363,239 $1,160.611 $L577.160
<br />Exploration Cush:
<br />United Slates $1,U06,463 $a.U62,4;U $3,413.949
<br />Australia ifi7,fi39 16a,2U0 191,177
<br /> $7,174,702 $a,x 26, 6:0 $5.605,176
<br />Development Costs:
<br />United Stales $ 997,032 $a,l?SA7S? $x.71 Z2i9
<br />Canada - ~- 1.456
<br />$ 991,032 54,1,'8,x87 $x,716,635
<br />Results of Operations for Producing Activities:
<br />The Company's results of operations fur oil and gas
<br />producing activities for the years ended tune 3U, 1986, 1985
<br />and 1984 are yet forth below:
<br /> Fur the 1"ear Ended lure 511,
<br />Trnal UngeU Stares 1486
<br />Canada
<br />Gil and Ga; Sales $ 1,991,1155 $ 3,4fP.055 $ -
<br />Co~t and Egtensec:
<br />Production CUUS 1;350. Sr,3 1,950,363 -
<br />Wnterl~nvn of Oil and Gas
<br />Properties RL86Q44L 18.560.996 -
<br />Depreciatian, Depletion
<br />and Amorlizalwn ~.; 55,'61 2,155,262 -
<br /> ' 1 !66 6:' I ' 3 L6lt 621 _
<br />Reslil4 Ot ~)pelabOn+
<br />Belurc Income Taxes 114,'_7x,5661 (19,21x,566) -
<br />InconteTaiBenelil 6,x36,0911 6,436.1110 -
<br />Resulk of Clperdlion~lur
<br />Prurlucing Acl rvities
<br />(Excluding Corporate
<br />Uverhead and Interest
<br />Cngxl $(12,838,x761 8(1!.838.x761 $ -
<br />Depreciation, depletion and amortization per equivalent
<br />barrel of oll production was $13.00 in the Unrted States.
<br /> Fur the Yea i Ended lone 3U , 1465
<br /> Total Untied Slates Canada
<br />Oil and Gas Sales $:.636,165 $:,829,57] $n,593
<br />Cox and Expenses:
<br />Production costs 1,7a9,80s 1 Ja9,ii? 28
<br />Depreciation, Depletion
<br />and Amortization 1,64U,7fl2 ZSa0,782 -
<br /> a,590,58.' a,59Q.559 28
<br />Re.ultc of OperaBOns
<br />Before Income Ta~<es 3,?as,578 5.239,O1a 6,564
<br />Income Tar E((ecl~ I.2?9,000 1,226,000 SAUO
<br />Ressihc o(Operatinns for
<br />Producing Aclivnies
<br />(Euluding Corporate
<br />Overhead and Interest
<br />Custsl $2,016,818 $2,013,O1x $3564
<br />Depreciation, depletion and amortizatio n per equivalent
<br />barrel of oil production was 59.61 in the United States .
<br /> Fur the tea r Ended tune 30, 198x
<br /> Tidal United Sate> Canada
<br />oil and Ga. sales $Ix.38x.l Ul $1x,289A60 S6x.tal
<br />Cost and Expenses
<br />Production Cus6• 2,30h,299 2,285,728 1Q571
<br />Depreciation, Depletion
<br />and Amortization 3,549,8aa 3,5?9,696 20.1 a8
<br /> S.BSb,la3 5,815A2a x0,719
<br />RenJts of Uperatiuns
<br />Before Income faxes 8,497,958 8,x7a,536 23.a??
<br />Income T,tx EIIecK ;,013.000 3,99x.000 19,1100
<br />Result N Operations Eur
<br />PrnrluUng Activnies
<br />(Excluding Corpomte
<br />Uverhearl and Interest
<br />Costs) $ 4,48-7.958 S x,480,536 $ a,x22
<br />Depreciation, depletion and amortization per equivalent
<br />barrel of oil production Was $6.42 in the United States and
<br />$2.83 to Canada.
<br />22
<br />
|