CYGAM Announces 2012 Financial Results and Annual Filings
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/04/13 -- CYGAM Energy Inc. (TSX VENTURE: CYG) ("CYGAM", or the "Company"), an emerging oil and gas company with interests in Tunisia and Italy, has filed the annual consolidated financial statements, the related Management Discussion and Analysis ("MD&A") and additional information required to be filed pursuant to the requirements of the applicable securities laws. These filings may be viewed on the Company's web site () or at .
CYGAM's Q4 and annual results showed continued significant improvements in both production volumes and revenues over prior years arising from the TT Field that is contained within the Bir Ben Tartar ("BBT") Concession in the Sud Remada Permit. Strong pricing, excellent netbacks and cash flow from its Brent-priced Tunisian oil production resulted in CYGAM's continued profitability in the fourth quarter and for all of 2012.
Under the production sharing contract established for the Sud Remada Permit with the Tunisian state oil company, Enterprise Tunisienne d'Activities Petrolieres ("ETAP"), CYGAM holds a 14 percent working interest through its wholly owned subsidiary Rigo Oil Company Tunisia Ltd., in partnership with Storm Ventures International, a subsidiary of Chinook Energy Inc. ("Chinook"), who holds the remaining 86 percent working interest and operates.
Highlights of the quarter and year ended December 31, 2012
SELECTED FINANCIAL INFORMATION
OPERATING
About CYGAM Energy Inc.
CYGAM is a Calgary based exploration company with extensive international exploration permits and producing properties in Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 2.6 million gross acres.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
CYGAM Energy Inc.
David Taylor
President and Chief Executive Officer
CYGAM Energy Inc.
Al Robertson
Chief Financial Officer
(403) 802 6983
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Datum: 04.04.2013 - 22:00 Uhr
Sprache: Deutsch
News-ID 246220
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CALGARY, ALBERTA
Kategorie:
Oil & Gas
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