Miller Petroleum, Inc., dba Miller Energy Resources announced today that total revenue for the quarter ended July 31, 2009 of $527,620 as compared to $215,265, during the same quarter in 2008, a 145% increase.
"We credit this increase in revenue and this profitable quarter as a result of the first phase of our aggressive acquisition program that added ETC and KTO here in Tennessee," said Scott Boruff CEO, of Miller Energy Resources. "The combined cost to the company for the two firms was 2,000,000 million shares of Miller stock, valued at $570,000. The combined assets of the two firms is now valued at over $2.3 million.
"With major acquisitions on the horizon our expansion plans are ahead of schedule. We have solidified our institutional investment relationships and now have the ability to expand at an aggressive pace. As Tennessee's largest owner operator of oil and natural gas wells we can now shift our attention to nationwide energy opportunities."
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