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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sahara Energy Ltd | TSXV:SAH | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.025 | 0.02 | 0.025 | 0 | 01:00:00 |
Sahara Energy Ltd. (TSX VENTURE:SAH) (PINK SHEETS:SAHRF) has amended and restated its management's discussion and analysis for the period ending June 30, 2010. The material amendments to the management's discussion and analysis resulted in the following changes: 1. The indebtedness referred to in the last sentence in the second paragraph under "Corporation Overview and Principal Business Risks" was changed from $1,822,848 to $1,828,848. 2. The table under "Royalties" was changed as follows: As previously reported Three months ended Six months ended June 30 June 30 2010 2009 2010 2009 ---------------------------------------------------------------------------- Royalties 6,385 34,679 33,195 43,447 As a % of oil and natural gas revenue 9.95 14.48 11.59 9.84 Per boe (6:1) ($) 5.32 5.95 6.55 4.37 ---------------------------------------------------------------------------- Restated Three months ended Six months ended June 30 June 30 2010 2009 2010 2009 ---------------------------------------------------------------------------- Royalties 3,749 34,679 30,559 43,447 As a % of oil and natural gas revenue 5.84 11.70 10.67 9.84 Per boe (6:1) ($) 3.12 5.96 6.03 4.37 ---------------------------------------------------------------------------- 3. The following: "Excluding the credit of approximately $60,000, Sahara's operating costs for the second quarter would have been $30,926 or $25.75 per boe." was added as the second last sentence under "Production Expenses". The table under "Operating Netback" was changed as follows: As previously reported Three months ended Six months ended June 30 June 30 ($ per boe) 2010 2009 2010 2009 ---------------------------------------------------------------------------- Revenue 53.40 50.79 56.49 44.40 Royalties 5.32 5.94 6.55 4.37 Production expenses (24.26) 30.37 26.52 30.60 ---------------------------------------------------------------------------- Field netback 72.34 14.48 23.42 9.43 ---------------------------------------------------------------------------- Restated Three months ended Six months ended June 30 June 30 ($ per boe) 2010 2009 2010 2009 ---------------------------------------------------------------------------- Revenue 53.40 50.87 56.49 44.44 Royalties 3.12 5.96 6.03 4.37 Production expenses (24.26) 30.42 26.52 30.63 ---------------------------------------------------------------------------- Field netback 74.54 14.49 23.94 9.44 ---------------------------------------------------------------------------- 4. The table under "Depletion Depreciation and Accretion (DD&A)" was changed as follows: As previously reported Three months ended Six months ended June 30 June 30 2010 2009 2010 2009 ---------------------------------------------------------------------------- Depletion and Depreciation ($) 26,840 (90,640) 100,724 1,064,357 Per boe (6:1) 22.34 (20.43) 19.87 48.82 Accretion ($) 8,647 2,149 17,294 16,589 Per boe (6:1) 7.20 0.48 3.41 0.76 ---------------------------------------------------------------------------- Restated Three months ended Six months ended June 30 June 30 2010 2009 2010 2009 ---------------------------------------------------------------------------- Depletion and Depreciation ($) 26,840 574,702 100,724 760,100 Per boe (6:1) 22.34 98.69 19.87 76.51 Accretion ($) 8,647 (6,547) 17,294 23,456 Per boe (6:1) 7.20 (1.12) 3.41 2.36 ---------------------------------------------------------------------------- 5. Certain figures in the last table under "Quarterly Summary" were changed as follows: As previously reported Restated 2010 Q2 Operating ($) Royalties 6,385 3,749 Revenues, net of royalties 57,755 60,391 Operating income ($) 86,900 89,536 G&A / other expenses ($) 122,834 150,692 $ per boe Royalties 5.32 3.12 Netback 72.34 74.54
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