Petro Resources Ends Quarter with Production at 30,670 Barrels of Oil

Petro Resources Corporation announed its production results for the quarter ended June 30, 2008.

The Company's net production for the quarter ended June 30, 2008 included 30,670 barrels of oil, 75,637 mcf of natural gas, and 5,522 barrels of natural gas liquids for a barrel-equivalent total of 48,798 boe compared to 25,282 barrels of oil, 47,027 mcf of natural gas, and 250 barrels of natural gas liquids for a barrel-equivalent total of 33,370 boe for the quarter ended June 30, 2007.

For the quarter ended June 30, 2008, the average daily production was approximately 536 boe per day of which approximately 363 boe per day was attributable to the Williston Basin and 173 boe per day was attributable to
the Cinco Terry Field. The daily exit production rate was 546 boe per day. These rates compare to average daily production of 367 boe per day for the quarter ended June 30, 2007 and a daily exit production rate of 363 boe per day.

 

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