During this period, EnDevCo increased its total assets to $16,590,200 compared with $2,879,419 reported year end 2005. As of the end of the 2nd Quarter, the Company has total current assets of $1,468,740, cash reserves of $799,036 and a remaining credit facility of $20,333,787 for the continued development of the Short Junction Field. "As a result of the production increases we continue to achieve at Short Junction Field, the Company is well positioned to earn our first net operating profit later this year," stated Chris A. Dittmar, CEO.
The Company continues to invest in a cost effective work program designed to increase production from existing well bores in the Short Junction Field and will make additional announcements in the near future regarding recently completed operations once new production rates stabilize. These operations appear to have significantly increased both oil and gas production in the Field.
Most Popular Articles
From the Career Center
Jobs that may interest you