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Share Name | Share Symbol | Market | Type |
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Sentinel Rock Oil Corporation | TSXV:SEN | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Sentinel Rock Oil Corporation (TSX VENTURE:SEN) ("Sentinel Rock" or the "Company") has filed its Unaudited Financial Statements and Management Discussion and Analysis ("MD&A") for the third quarter ended September 30, 2008 on SEDAR. The documents can be assessed on SEDAR's site at www.sedar.com. Selected Quarterly Information The following table provides a summary of key financial results. THREE MONTHS ENDED NINE MONTHS ENDED -------------------------------------------- SEPTEMBER SEPTEMBER SEPTEMBER SEPTEMBER 30 30 30 30 2008 2007 2008 2007 $ $ $ $ FINANCIAL Cash flow from operating activities (includes working capital change) (268,964) (105,974) (378,322) (331,210) Net and comprehensive loss (278,648) (86,351) (816,461) (245,164) Basic and diluted loss per share (0.010) (0.004) (0.030) (0.013) Total Assets 6,721,163 3,173,073 Total Liabilities 401,633 489,486 SHARES OUTSTANDING Common shares outstanding - basic 28,493,855 19,203,836 CAPITAL EXPENDITURES Total capital expenditures for the nine months and quarter ended September 30, 2008 were $2,655,905 and $228,098 respectively. Capital spending is up from $1,663,821 and $12,041 for the corresponding periods in 2007. The increased capital activity during the quarter ended September 30, 2008 is due in part to invoices still being received for clean up from the drilling program conducted earlier this year and to lease acquisition. NET INCOME The net and comprehensive loss for the nine months and quarter ended September 30, 2008 was $816,461 and $268,648. LIQUIDITY As at September 30, 2008, the Company had a working capital deficiency of $73,306. The decrease in working capital is due in part to additional drilling and seismic related charges at the Company's Hoole prospect and to general and administrative expenses related to its amalgamation with Sabrich Capital and resulting public listing. ABOUT SENTINEL ROCK Sentinel Rock is a publicly traded energy company involved in the exploration and development of oil and natural gas properties in Western Canada. FORWARD-LOOKING INFORMATION This press release includes forward-looking statements and assumptions respecting Sentinel Rock's strategies, future operations, expected financial results, financial sources, commodity prices, costs of production and quantum of oil and natural gas reserves and discusses certain issues, risks and uncertainties that can be expected to impact on any of such matters. By their nature, forward-looking statements are subject to numerous risks and uncertainties that can significantly affect future results. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which Sentinel Rock may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Sentinel Rock undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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