Milagro Energy Inc.
TSX : MIG

Milagro Energy Inc.

November 14, 2006 09:00 ET

Milagro Energy Inc. Announces Filing of Its Q3 Interim Report

CALGARY, ALBERTA--(CCNMatthews - Nov. 14, 2006) - Milagro Energy Inc. (TSX:MIG) has filed its Q3 Interim Report for the three months ended September 30, 2006 on the System for Electronic Document Analysis and Retrieval ("SEDAR"). The Q3 can be found for viewing on the SEDAR website at www.sedar.com.

The third quarter shut in production was all brought back on stream and Milagro exited Q3 at approximately 570 BOED.



HIGHLIGHTS 2006
(Unaudited) Q3
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OPERATING
Average daily production
Oil & NGLs (bbls per day) 289
Natural gas (mcf per day) 1,202
Equivalent barrels (BOE per day) 489
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FINANCIAL
($000s except per share amounts)
Oil and gas revenue 2,353
Cash flow from operations (44)
Per share - basic and diluted -
Net earnings (loss) (1,133)
Per share - basic and diluted (0.02)
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Per barrel of oil equivalent ("boe") amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil ("6:1"). The 6:1 conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. BOE disclosure may be misleading, particularly if used in isolation. Readers should be aware that historical results are not necessarily indicative of future performance.


Contact Information

  • Milagro Energy Inc.
    Jeffrey Rekunyk
    President & CEO
    (403) 693-4006
    or
    Milagro Energy Inc.
    Brad Haack
    Vice-President, Finance & CFO
    (403) 693-4007
    Website: www.milagroenergy.com