Sierra Vista Energy Ltd.
TSX VENTURE : SVR.A
TSX VENTURE : SVR.B

Sierra Vista Energy Ltd.

May 30, 2006 12:40 ET

Sierra Vista Energy Ltd. Announces Q1 2006 Financial Results

CALGARY, ALBERTA--(CCNMatthews - May 30, 2006) - Sierra Vista Energy Ltd. (TSX VENTURE:SVR.A) (TSX VENTURE:SVR.B) is pleased to announce its financial results for the three-months ended March 31, 2006.



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Three months ended
Q1 2006 HIGHLIGHTS March 31, 2006
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Petroleum and natural gas revenue $ 674,496
Cash flow from operations $ 354,432
Cash flow from operations per share - basic and diluted $ 0.02
Net income $ 89,204
Net income per share - basic and diluted $ 0.01
Capital expenditures 6,191,689
Working capital deficit $ 350,428
Total assets $17,386,000
Number of shares outstanding
Weighted average shares outstanding - basic 17,282,238
Weighted average shares outstanding - diluted 17,946,007
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Sierra Vista is also pleased to announce that on May 26, 2006 the Company entered into a $2,500,000 Revolving Loan Facility with a financial institution. The facility is based on the Company's December 31, 2005 year-end reserve report as well as the recent property acquisition in the Company's core area of Ante Creek.

The Company's March 31, 2006 financial statements and Management's Discussion and Analysis may be viewed on Sedar at www.sedar.com.

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

Contact Information

  • Sierra Vista Energy Ltd.
    Mr. Mark Malouin
    President & Chief Executive Officer
    (403) 265-9393 ext 201
    (403) 265-9224 (FAX)
    Suite 850, 101 - 6th Avenue SW
    Calgary, Alberta T2P 3P4