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Junior Sharon Energy reports Q1 earnings of US$180,000 |
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Written by THE CANADIAN PRESS
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Thursday, 21 August 2008 |
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CALGARY - Sharon Energy Ltd. (TSXV:SHY), a Calgary-based junior oil and gas company, reported a first quarter net profit of US$180,000, reversing a loss last year on higher production and revenues.
Sharon said Monday it earned nil per share for the quarter ended June 30, against a loss of US$468,000 or one cent for the same period last year.
Revenue rose to $1.5 million from $791,000 as the company benefited from higher natural gas and oil prices and rising quarterly production.
Sharon, which reports in U.S. dollars, focuses on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.
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Last Updated ( Thursday, 21 August 2008 )
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