Reece Reports Financial And Reserve Increases For 2008

摘要

Reece Energy Exploration Corp. has reported net income of $5.2 million for 2008, up from only $81,032 in 2007 primarily due to the high prices for oil and gas received during the first half of the year and higher production. For the final three months of the year, Reece's profits declined with lower commodity prices to $720,661 but cash flow was $6.14 million, up from $1.54 million a year earlier.