CIRCUMPACIFIC ENERGY CORPORATION
TSX VENTURE : CER

CIRCUMPACIFIC ENERGY CORPORATION

July 27, 2009 14:42 ET

Circumpacific Energy Corporation: Disclosure of Preliminary Financial Results

CALGARY, ALBERTA--(Marketwire - July 27, 2009) - Circumpacific Energy Corporation (TSX VENTURE:CER) ("Circumpacific" or the "Company") today released preliminary financial results for its fiscal year ended June 30, 2009, in response to a request from its majority shareholder to permit it to fulfill its own reporting obligations.

The Company cautions that the information provided in this press release is preliminary, it has not been reviewed by its auditor, and accordingly that the final results may differ.

The Company currently expects that for the fiscal year ended June 30, 2009 (all figures are in Canadian dollars unless otherwise specified);



- Production Results
Oil and Gas Production: 82,580 boe

- Financial results

Revenues $ 4,571,481
Less: royalties and ARTC (596,607)
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Net operating revenue $ 3,974,874
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Operating expenses $ 1,491,343

- Capital Expenditures

LAND & LEASE COSTS $ (73,474)
GEOLOGICAL & GEOPHYSICAL 247,780
DRILLING & COMPLETION 398,847
PRODUCTION EQUIPMENT 596,722
ABANDONMENT & RECLAMATION (61,726)
ALL OTHER ASSETS (INCL. Capitalized G&A) 280,332
OFFICE ASSETS 11,907
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$ 1,400,389
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- Cash Balances
Cash and cash equivalent $ 2,127,883

Note: During the last fiscal year, the Company secured a bank line of
credit that includes covenants restricting the use of funds for
dividends or for disbursements to parties outside of Canada.

- Shares Information as of June 30, 2009:
Common, issued and outstanding 53,572,638
Options issued, exercisable and fully vested 80,000


On behalf of Circumpacific Energy Corporation

Peter Toy, Chief Financial Officer, Corporate Secretary

The Company currently expects to release the final results for its fiscal year ended June 30, 2009 on or around the October 28, 2009.

Circumpacific Energy Corporation is an independent oil and natural gas producer engaged in the acquisition, exploration, production and development of oil and natural gas properties in North America and Australia.

For further information visit Circumpacific's website at www.circumpacific.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Circumpacific Energy Corporation
    Peter Toy
    Chief Financial Officer, Corporate Secretary
    Website: www.circumpacific.com