NOG: Highlights - 2009 Annual Report

NOG PR, March 8, 2010: Fiscal Year 2009 Earnings

2009 Earnings, 2009 vs 2008
2009: net earnings of $2.8 million on oil and natural gas sales of $15  million
2008: net earnings of $2.4 million on oil and natural gas sales of $3.5 million
Wasn't price of oil higher in 2008? If so, the 2009 numbers are even more impressive

Reserves

2009: 6 million barrels boe proved reserves
2009: 700% increase over 2008 proved reserves
2009: 2,065% replacement of 2009 production
Those numbers were based on SEC pricing parameters of $53/bbl
Using constant realized net prices of $72/bbl, proved reserves jump to 10 million boe 

Production

2009: 282K boe
2008: 51K boe
Results represent a 448% increase in production

Net wells

2009: 9 wells; producing approximatley 1,508 boepd
As of March 1, 2010, NOG has completed or is completing an addition 3.45 net wells with approximately 1,986 boepd

Slawson wells that NOG participated in, names and 20-day production rates:

Stallion 1-1-12H: 1,525
Zephyr 1-36H: 1,245
Ripper 1-22H: 975 (2,369)
Minx 1-28H: 923
Fox 1-28H: 1,139
Bazooka 1-20H: 1,042

Other wells NOG participated in:

Highland 1-9H (Sinclair Oil): 564
Edwards 5992 44-10 (Oasis Petroleium): 478
Van Hook 100-15H TFS (EOG): 1,585
Liffrig 29-20 1-H TFS (BEXP): 2,477
Norman 1-9H (CLR): 1,366
Arvid 2-34H (CLR): 407

For more, go to NOG's press release, March 8, 2010
Note: IPs will vary depending on who is reporting