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The following table sets forth the standardized measure <br />of the Company's discounted suture net cash (sou" relating to <br />proved oil and gas reserves as vi lone 30, 1986 and 1986: <br /> luny' NI, 198D <br /> Tidal Untied 71ams Canada <br />Rnure Gi,h Inllrnv. $14.M4,4 U' $14,lifi~l iUi $ - <br />Fulure Pmdu~lion Gsl, (3,59 i,7U.'1 13.5`1'.'Ilil - <br />FulureDerelopn,enlCmP 119 i,2tf4 11'1 i,!ell - <br />Fulure Income Tor Eytrn,es - <br />Fulure Nel Ca,h Fluor, I I.U93,71'I 11,119 1,419 - <br />I(1^L Annuul Dlsarunl sin <br />Cn6maied Timing ui <br />(.ash Flao', (3.1160,54_'1 I i,l lid 1,592) - <br />- <br />Standartl¢erl Atcasure ul <br />Dnanlnied Fulure Nei <br />Cash Floor: $ 8.U33, i!; > till i3, i^_i $ - <br /> lo ne ill. 1'185 <br /> h,ldl Unnrd 51a1c, Cdnmld <br />Fulure Cash Intluo'> 541, NS.000 %4J.145.UIIU $ - <br />FulureProdmlluoCu~l, Ifi,354,1111U1 16,{54 AUUI - <br />FunurDeeelupmenlCusl. 11.3n5,0007 II.SUS.UUIU - <br />Rlmre Income Tns Ecprnse, IIII,438,000I I IU 4.i 8.000) - <br />Fumrc Nrl Cash Fluor. !4,048.011(1 _'d t)gH,000 <br />lIl"o Annual Di>i, nlni iur <br />E,Ilmuled Timing ul <br />Ca,h Flrnr. 6.985,11U1h 1,ru•.5.uuul _- <br />Slandardi~ed Alramre ul <br />DPCOU nIed Fulure Nel <br />La,h Flows 818.U4 1,000 Diti J)n i.U(10 S - <br />~ Fuiure net cash flows were computed usln;, year-end <br />~, price's and costs, anti year-end statutory income tax rates <br />ladjusted for permanent dillerences and tax ueditsl Thal <br />relate to existing proved oil and gas reserves in which the <br />(.Olllpall \' has all Inleresl. <br />The follrnving are the principal soure es of changes in <br />the standardized measure of discounted iuulre tie! cash lows <br />for the years ended tune 30. 1986, 1985 and 14184: <br />rln6 rui5 1484 <br />St,mdnrdizrd Aleasurc, <br />Regmnin); of Perod $IS.l163,I10U $31,35 t, 1'19 $H.Ii6.543 <br />E\ICn!IUnb Jnd <br />Dlicoterie,, <br />Nei of f:cloied CUSP lfill,'1`1? .-.:-_! i8 3'18,490 <br />kl'\'ICIOn$ lu Prrviuu, <br />(~uanlnv E.Innale, I6 '186,'1651 1_'11.'(li .n751 (I,848,R°41 <br />Nel Change, In Price, <br />allr{ PfOd UCllnll <br />c~,a Iln,'?x.0461 1n1,~a7s6n sJlsa.4ls <br />Fu rchase ul htmera 1. <br />in Place ;6,313 1, 45!,fllll - <br />Sale tit Mlncral> <br />In Place - CUB,vU i) - <br />Aicreliun nl Di>nxull 2.4'fi,710 4.18v.11 I 5,146, 7J? <br />Change, in Dc~elupn,ent <br />Cnpis (1111.110) 41!,SIAI 3,7!4,077 <br />Sales ui l )il and <br />Gay Produced, net <br />ul Vruducliun Cost, 11,863,916) lS.US'!,1441 111,'_'75,h?2i <br />Ncl Change in <br />Inwn,e Tate. 1,442,'44 9,'_;4.585 13.156,6'!1 <br />Sunda«I¢ed Measure, <br />End of Period $ 8.1133,31 $IIi.II63.1IU11 $ 41, 15:4.199 <br />11. Interim Financial Information (Unauriltedj: <br />Interim financial information for the years ended lone 30, <br />1986 and 1986 is as follows: <br />Ctuarlen Ended In 1986 <br />Sepiembar 3U, December 31, nlmch 31, tune ill, <br />Kevrnues $1,510,461 $1,_'811,1?i $h83,1!x5 $ I4?8.381 <br />Lny: <br />Reiore <br />income <br />Ta c <br />Bencrrt 1173]64) Ii S, fBa„'181111 14'!1,1581 15,57'.87illtl) <br />Nel Luss II 13,7691 (4 (1`11,LR81 C26'i,i4fl1 IS 194,?91) <br />Nei Lus, <br />Per <br />Share LU3) 11.481 13141 1.891 <br /> <br />$rplember 311. cleaner, hided In Ivas <br />December 31, March 31, <br />lone 3U, <br />Revenue. $3, T1_4,i!8 $l,i R4, '94 $'16_',958 $1.'_;8.633 <br />Inrume <br />Ilu4.) <br />Belure <br />Income <br />Tme, ?,I~S,i 89 SUB,q_'8 611,765 (58'11041 <br />Nel <br />tontine <br />flea,) 1,2 18)89 3fl9!128 14Y,765 67,2(1411'_') <br />Nel <br />Inr unre <br />llo~~l <br />Per <br />Share .?P .U5 U6 f 017 <br />lU Dunnp the gunners ended December il, 1485 and tune 1U, 1986, the <br />Cumpanq recorded ,rriledowns of $14.464.I1Un and $4,861,U11U lu tl~ <br />United Stale, and Auarallnn oil and po, pmperlles See Nule I. <br />l21 Nel inum,c iur the quaver ended lone 30. 1485 was benetiied by a <br />revs>IOn ul the ewmaierl income lay tine ui a3y„ iur the nine munlh, <br />ended March 31, 1985 lu an elleclive Inr unID lac rase nl 3!YS, iur the vear <br />ended lone 3U, 1985. <br />12. AcqulsiHons: <br />In May 1986, the Company executed a Letter of Intent with <br />an unrelated entity to acquire a 25`;5, individual working <br />Interest in patented and unpatented mining claims and <br />unpatented rnillsite claims (the "Property"). In accordance <br />with the Letter of Intent, the Company has deposited <br />$300,000 with an esuow agent as of lone 30, 1986. <br />Additional payments of approximately 83.9 million will be <br />required to purchase the Property. <br />In August 1986, [he Company and other entities (the <br />"Lessees") executed a lease and option agreement whereby <br />the Lessees v,'ould lease a certaut mining property (or an <br />approximate two-year period with an option to acquire such <br />property at the expiration of that period. The initial cost (o <br />the Company Is approximately $140,000. <br />