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Thursday, 21 August, 2008, 20:50 GMT | more prices >>

Contango sees red in 2006



By Upstream staff 

Houston-based Contago Oil & Gas reported a net loss for its 2006 financial year of $807,963, or a loss of five cents per basic and diluted share.

The loss compares to net income of $12 million, or 92 cents per basic and diluted share in the previous financial year.

Contango reported a net loss of $1.2 million, or a loss of eight cents per basic and diluted share for the second quarter of 2006, compared with a net loss of $1.4 million, or a loss of 10 cents per basic and diluted share.

Revenues from natural gas and oil sales for 2006 fell to $920,304 from $1.1 million in 2005. Revenues for the second quarter of 2006 fell to $4.9 million from $15.2 million in the second quarter of 2005.

The loss appeared to be attributable to a fall in oil and gas sales amid continued spending on capital projects.


Tuesday, 12 September, 2006, 22:18 GMT  | last updated: Tuesday, 12 September, 2006, 22:18 GMT

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