Trimox Energy Inc.

Trimox Energy Inc.

April 19, 2007 16:01 ET

Trimox Announces Filing of Year-End Results

CALGARY, ALBERTA--(CCNMatthews - April 19, 2007) - Trimox Energy Inc. ("Trimox") (TSX VENTURE:TRM.A) (TSX VENTURE:TRM.B) today filed with Canadian securities authorities its Audited Financial Statements and Management Discussion and Analysis in respect thereof for the year ended December 31, 2006. Copies of the filed documents may be obtained through SEDAR at

Financial and operational highlights for the three months and year ended December 31, 2006 were as follows:

Three Months Ended Year ended
December 31 December 31
2006 2005 2006 2005
unaudited unaudited

Financial ($)
Petroleum and natural
gas sales 3,838,397 1,101,128 12,852,032 1,220,498
Net income (loss) (1,311,614) 39,738 (2,067,175) (203,453)
Per share - basic and
diluted (0.08) 0.00 (0.12) (0.02)
Funds from (used for)
operations 1,493,646 719,437 6,487,525 645,347
Per share - basic 0.09 0.05 0.37 0.05
Per share - diluted 0.08 0.05 0.37 0.05
Capital expenditures 1,999,576 9,013,849 16,981,849 15,787,876
Working capital
(deficiency) (6,317,855) 4,176,469 (6,317,855) 4,176,469

Equity outstanding
Class A shares 14,900,000 14,900,000 14,900,000 14,900,000
Class B shares 450,000 450,000 450,000 450,000
Stock options on Class A
shares 1,335,000 1,335,000 1,335,000 1,335,000

Average Daily Production
Natural gas - mcf 4,434 1,055 3,809 299
Crude oil & liquids - bbls 188 8 175 2
Total - boe 927 184 810 52

Average Sales Prices
Natural gas - $/mcf 7.16 10.85 6.57 10.72
Crude oil & liquids - $/bbl 52.99 64.00 58.09 56.19
Total - $/boe 45.00 65.05 43.47 63.94

Operating Netbacks
BOE - $/boe 22.06 42.64 23.88 42.15

Wells Drilled
Gross - 7.0 13.0 17.0
Net - 5.0 8.4 10.7

Undeveloped Land
Gross - acres 46,307 37,440 46,307 37,440
Net - acres 22,989 17,593 22,989 17,593


This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond Trimox's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Trimox's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that Trimox will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to Trimox or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Trimox does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Natural gas volumes have been converted to barrels of oil equivalent ("boe") using six thousand cubic feet ("mcf") equal to one barrel ("bbl"). This conversion ratio is based on an energy equivalent conversion applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

Contact Information

  • Trimox Energy Inc.
    Steve Dabner
    President & C.E.O.
    (403) 216-1721
    Trimox Energy Inc.
    Thomas Love
    Chairman & C.F.O.
    (403) 216-1722