Border Petroleum Inc.
NEX BOARD : BOP.H

September 03, 2009 14:11 ET

Border Announces Financial Results and Filing of Reserves Data

CALGARY, ALBERTA--(Marketwire - Sept. 3, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Border Petroleum Inc. (NEX:BOP.H) ("Border" or the "Company") is pleased to report its financial results for the year ended April 30, 2009. The audited financial statements and Management's Discussion & Analysis ("MD&A") were filed on SEDAR (www.sedar.com) on August 31, 2009. The Company is also pleased to announce that pursuant to National Instrument 51-101 ("NI 51-101") it has filed its Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 Report on Reserves Data by Independent Qualified Reserves Evaluator and Form 51-101 F3 Report on Management and Directors on Oil and Gas Disclosure. The annual and NI 51-101 filings of the Company are available for viewing at www.SEDAR.com.

Certain selected financial and operational information for the year ended April 30, 2009 and April 30, 2008 is set out below and should be read in conjunction with the Company's audited financial statements and related MD&A. The following table provides a summary of key financial results.



Year Ended April 30, 2009
-------------------------
2009 2008
----------- ----------
FINANCIAL
---------
Oil and Natural Gas Revenues $349,075 $ -

Revenue (net of royalties) $305,214 $ -

Funds From Operations
Per Share (Basic) $(0.01) $(0.01)
Per Share (Diluted) $(0.01) $(0.01)

Net Loss and Comprehensive Loss $(625,144) $(394,857)
Per Share (Basic) $(0.01) $(0.01)
Per Share (Diluted) $(0.01) $(0.01)

Total Assets $2,543,469 $213,805
Total Liabilities $643,734 $54,286

OPERATING
---------
Average Daily Production
Oil & NGLs (Bbls/day) 26 -
Natural Gas (Mcf/day) 24 -
Barrels of Oil Equivalent (boe/day) 30 -

SHARES OUTSTANDING
------------------
End of Year
Basic 57,226,763 33,526,762
Diluted 57,226,763 33,526,762

Weighted Average - End of Year
Basic 53,460,735 28,928,819
Diluted 53,460,735 28,928,819


About Border

Border is a Calgary, Alberta based oil exploration company.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this news release includes, but is not limited to, references to: well drilling programs and drilling plans, estimates of reserves and potentially recoverable resources, and information on future production and project start-ups. By their very nature, the forward-looking statements contained in this news release require Border and its management to make assumptions that may not materialize or that may not be accurate. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties and other factors, which could cause actual results, expectations, achievements or performance to differ materially, including without limitation: imprecision of reserve estimates and estimates of recoverable quantities of oil, changes in project schedules, operating and reservoir performance, the effects of weather and climate change, the results of exploration and development drilling and related activities, demand for oil and gas, commercial negotiations, other technical and economic factors or revisions and other factors, many of which are beyond the control of Border. Although Border believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Border Petroleum Inc.
    Tyler Cran
    Director
    (403) 538-8441