Tag Archives: Third Quarter

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Forest Oil Details Accelerated Eagle Ford Shale Drilling Program

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By Business Wirevia The Motley Fool

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Forest Oil Details Accelerated Eagle Ford Shale Drilling Program

Accelerated Development Program to Hold an Aggregate of 55,000 Gross (27,500 Net) Acres

Incorporate Four Drilling Rigs by the Third Quarter of 2013 and Drill 60 Gross (30 Net) Wells in 2013 and 80 Gross (40 Net) Wells in 2014

Eagle Ford Shale Average Net Sales Volumes Expected to Reach 6,500 Boe/d in 2014 from 1,600 Boe/d in 2012

DENVER–(BUSINESS WIRE)– Forest Oil Corporation (NYS: FST) (Forest or the Company) today provided an update on its Eagle Ford Shale drilling program for 2013 and 2014 and announced a teleconference call scheduled for April 12, 2013 at 7:00 AM Mountain Time to discuss the release.

Forest recently announced the signing of a definitive agreement with an industry partner for the future development of the Company’s Eagle Ford Shale acreage position. Under the terms of the agreement, the industry partner will pay a $90 million drilling carry in the form of future drilling and completion services and related development capital in order to earn a 50% working interest in Forest’s Eagle Ford Shale acreage position. In conjunction with the agreement, Forest plans to accelerate development by increasing drilling activity to four rigs, from one to two rigs currently, by the end of the third quarter of 2013. Forest projects that the capital carry amount combined with the accelerated pace of development will bring forward approximately $250 million in PV10 economics.

Forest anticipates that the accelerated development program will hold an aggregate of 55,000 gross (27,500 net) acres in Gonzales County, compared to 40,000 gross (40,000 net) acres based on the current development program. The increased acreage position has 688 gross (344 net) locations identified based on 80-acre spacing, and Forest anticipates being able to drill 80 gross (40 net) wells per year beginning in 2014. Based on Forest’s current estimated ultimate recovery of 300 Mboe per location, the Eagle Ford acreage contains a potential gross unrisked resource of over 200 MMboe (100 MMboe net).

Forest estimates that its share of capital expenditures in the accelerated development plan for 2013 and 2014 will total approximately $125 million and $220 million, respectively. The accelerated development plan will result in ten and

From: http://www.dailyfinance.com/2013/04/12/forest-oil-details-accelerated-eagle-ford-shale-dr/

Business, Finance, Occupation & Industry

Kofax to Announce Financial Results for the Third Quarter and Nine Months Ended March 31, 2013 on Ma

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Kofax to Announce Financial Results for the Third Quarter and Nine Months Ended March 31, 2013 on May 1, 2013

IRVINE, Calif.–(BUSINESS WIRE)– Kofax plc (ISE: KFX) , a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced it will publish its financial results for the third quarter and nine months ended March 31, 2013 at 7:00 a.m. UK time on Wednesday, May 1, 2013.

Chief Executive Officer Reynolds C. Bish and Chief Financial Officer Jamie Arnold will review the results and conduct a question and answer session via teleconference at 8:00 a.m. UK time on May 1. This can be accessed using the telephone numbers below:

From: http://www.dailyfinance.com/2013/04/11/kofax-to-announce-financial-results-for-the-third-/

                                   
Business, Finance, Occupation & Industry

P&G to Webcast Discussion of Third Quarter 2012/13 Earnings Results on April 24

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By Business Wirevia The Motley Fool

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P&G to Webcast Discussion of Third Quarter 2012/13 Earnings Results on April 24

–(BUSINESS WIRE)– The Procter & Gamble Company (NYS: PG) will webcast a discussion of its third quarter earnings results on Wednesday, April 24, 2013 beginning at 8:30 a.m. ET. Chairman of the Board, President and Chief Executive Officer Robert A. McDonald, Chief Financial Officer Jon R. Moeller, and Senior Vice President & Treasurer Teri L. List-Stoll will discuss the quarter’s results via the live webcast.

Media and investors may access the live audio webcast at www.pg.com/investors, beginning at 8:30 a.m. ET. The webcast will also be available for replay.

About Procter & Gamble

P&G serves approximately 4.6 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Mach3®, Bounty®, Dawn®, Fairy®, Gain®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Oral-B®, Duracell®, Olay®, Head & Shoulders®, Wella®, Gillette®, Braun®, Fusion®, Ace®, Febreze®, Ambi Pur®, SK-II®, and Vicks®. The P&G community includes operations in approximately 75 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.

Procter & Gamble
Mandy Wagner, P&G Corporate Media Relations, 513-983-6628
wagner.aj@pg.com

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Oxygen Biotherapeutics Reports Financial Results for the Third Quarter FY2013

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By Business Wirevia The Motley Fool

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Oxygen Biotherapeutics Reports Financial Results for the Third Quarter FY2013

MORRISVILLE, N.C.–(BUSINESS WIRE)– Oxygen Biotherapeutics, Inc. (NAS: OXBT) , a development stage biomedical company focused on developing oxygen-carrying intravenous and topical products, today announced financial results for the three and nine month periods ending January 31, 2013.

Third Quarter 2013 Financial Snapshot

  • Cash and cash equivalents were $0.8 million at January 31, 2013.
  • Net product sales from Dermacyte® were $2,900 for the third quarter of 2013 compared to $4,700 for the three months ended January 31, 2012.
  • Revenue earned under our U.S. Army research grant increased to $221,051 for the third quarter of 2013 compared to $146,101 for the three months ended January 31, 2012.
  • Net loss from operations decreased 16% for the third quarter of 2013 to $1.6 million compared to $1.9 million for the three months ended January 31, 2012.
  • Net cash used for operating activities decreased to $700,000 for the third quarter of 2013 compared to $2.3 million for the three months ended January 31, 2012.

“Activities during our most recent quarter related to three primary and time consuming achievements needed to resume our Phase IIb traumatic brain injury studies abroad, to further our preclinical studies designed to elaborate the safety profile of Oxycyte, our leading drug candidate, and capital raising activities that resulted in securing enough cash to finance activities to help us achieve the next major milestones necessary to drive our company forward, ” said Michael Jebsen, Interim Chief Executive Officer, Chief Financial Officer and President.

Oxygen Biotherapeutics reported net revenue of $222,388 and $1,009,356 for the three and nine months ended January 31, 2012, respectively compared to $148,262 and $268,294 for the same periods in the comparable periods in fiscal 2012. This increase is primarily due to government grant revenue earned under the U.S. Army-funded grant awarded to the company in June 2011 to conduct preclinical studies for Oxycyte® perfluorocarbon (PFC) emulsion.

These preclinical studies are designed to address safety concerns expressed by the U.S. Food and Drug Administration (FDA)and to develop a more robust and comprehensive safety profile for Oxycyte. The results will be used to respond to …read more
Source: FULL ARTICLE at DailyFinance