|
Year ended December 31, |
|
|
|
1998 |
1997 |
1996 |
|
--------------- |
--------------- |
--------------- |
| Revenues: |
|
|
|
| Oil and gas sales |
$ 80,067,837 |
$ 69,015,189 |
$ 52,770,672 |
| Fees from limited partnerships and
joint ventures |
333,940 |
745,856 |
937,238 |
| Interest income |
107,374 |
2,395,406 |
433,352 |
| Other, net |
1,960,070 |
2,555,729 |
2,156,764 |
|
--------------- |
--------------- |
--------------- |
|
82,469,221 |
74,712,180 |
56,298,026 |
|
--------------- |
--------------- |
--------------- |
| Costs and Expenses: |
|
|
|
| General and administrative, net of
reimbursement |
3,853,812 |
3,523,604 |
4,149,964 |
| Depreciation, depletion, and
amortization |
39,343,187 |
24,247,142 |
16,526,379 |
| Oil and gas production |
13,138,980 |
8,778,876 |
6,141,941 |
| Interest expense, net |
8,752,195 |
5,032,952 |
693,959 |
| Write-down of oil and gas properties |
90,772,628 |
--- |
--- |
|
--------------- |
--------------- |
--------------- |
|
155,860,802 |
41,582,574 |
27,512,243 |
|
--------------- |
--------------- |
--------------- |
| Income (Loss) Before Income Taxes |
(73,391,581) |
33,129,606 |
28,785,783 |
|
|
|
|
| Provision (Benefit) for Income Taxes |
(25,166,377) |
10,819,417 |
9,760,333 |
|
--------------- |
--------------- |
--------------- |
| Net Income (Loss) |
$ (48,225,204) |
$ 22,310,189 |
$ 19,025,450 |
|
============ |
============ |
============ |
| Per share amounts -- |
|
|
|
| Basic |
$ (2.93) |
$ 1.35 |
$ 1.27 |
|
============ |
============ |
============ |
| Diluted |
$ (2.93) |
$ 1.26 |
$ 1.25 |
|
============ |
============ |
============ |
| Weighted Average Shares Outstanding |
16,436,972 |
16,492,856 |
15,000,901 |
|
============ |
============ |
============ |
