|
Year
ended December 31, |
|
|
|
2001 |
2000 |
1999 |
|
--------------- |
--------------- |
--------------- |
| Revenues: |
|
|
|
| Oil and
gas sales |
$
181,184,635 |
$
189,138,947 |
$
108,898,696 |
| Fees
from limited partnerships and joint ventures |
427,583 |
331,497 |
229,749 |
| Interest
income |
49,281 |
1,339,386 |
833,204 |
| Price-risk
management and other, net |
2,145,991 |
815,116 |
709,358 |
|
--------------- |
--------------- |
--------------- |
|
183,807,490 |
191,624,946 |
110,671,007 |
|
--------------- |
--------------- |
--------------- |
| Costs and Expenses: |
|
|
|
| General
and administrative, net of reimbursement |
8,186,654 |
5,585,487 |
4,497,400 |
| Depreciation,
depletion, and amortization |
59,502,040 |
47,771,393 |
42,348,901 |
| Oil and
gas production |
36,719,609 |
29,220,315 |
19,645,740 |
| Interest
expense, net |
12,627,022 |
15,968,405 |
14,442,815 |
| Other
expenses |
2,102,251 |
--- |
--- |
| Write-down of
oil and gas properties |
98,862,247 |
--- |
--- |
|
--------------- |
--------------- |
--------------- |
|
217,999,823 |
98,545,600 |
80,934,856 |
|
--------------- |
--------------- |
--------------- |
| Income (Loss) Before
Income Taxes, Extraordinary Item and Change in Accounting Principle |
(34,192,333) |
93,079,346 |
29,736,151 |
|
|
|
|
| Provision (Benefit) for
Income Taxes |
(12,237,436) |
33,265,480 |
10,449,577 |
|
--------------- |
--------------- |
--------------- |
| Income (Loss) Before
Extraordinary Item and Change in Accounting Principle |
$
(21,954,897) |
$ 59,813,866 |
$ 19,286,574 |
| Extraordinary Loss on
Early Extinguishment of Debt (net of taxes) |
--- |
629,858 |
--- |
| Cumulative Effect of
Change in Accounting Principle (net of taxes) |
392,868 |
--- |
--- |
|
--------------- |
--------------- |
--------------- |
| Net Income (Loss) |
$
(22,347,765) |
$ 59,184,008 |
$ 19,286,574 |
|
============ |
============ |
============ |
| Per Share Amounts -- |
|
|
|
| Basic:
Income (Loss) Before Extraordinary Item and Change in Accounting
Principle |
$(0.89) |
$2.82 |
$1.07 |
|
Extraordinary Loss |
--- |
(0.03) |
--- |
|
Change in Accounting Principle |
(0.01) |
--- |
--- |
|
--------------- |
--------------- |
--------------- |
|
Net Income (Loss) |
$(0.90) |
$2.79 |
$1.07 |
|
============ |
============ |
============ |
| Diluted:
Income (Loss) Before Extraordinary Item
and Change in Accounting Principle |
$ (0.89) |
$ 2.53 |
$ 1.07 |
|
Extraordinary Loss |
--- |
(0.02) |
--- |
|
Change in Accounting Principle |
(0.01) |
--- |
--- |
|
--------------- |
--------------- |
--------------- |
|
Net Income (Loss) |
$(0.90) |
$2.51 |
$1.07 |
|
============ |
============ |
============ |
| Weighted Average Shares
Outstanding |
24,732,099 |
21,244,684 |
18,050,106 |
|
============ |
============ |
============ |
|
