SALINAS ENERGY LIMITED
Financial Highlights
SAE - 2008 Annual Financial Report - John Begg, Managing Director
Thursday, 2 October 2008 12:00pm
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Salinas Energy
Thu, 2 Oct 2008
12:00pm Australia/Sydney
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SALINAS ENERGY LIMITED (SAE)
ASX code: SAE
Website: http://www.salinasenergy.com/
Industry: Energy
Principal Activities:
Oil and gas exploration with interests in onshore California. The company also holds the patents for waste into energy technology.
Address:
, , 123a Royal Street,
EAST PERTH
WA
Phone: +61 8 9221 5252
Fax: +61 8 9221 5253
Executives & Directors
Mr Alan Stein , Non Exec. Chairman
Mr Ken Charsinsky , Managing Director
Mr Ian P Middlemas , Non Exec. Director
Mr Ron Miller , Non Exec. Director
Mr Dougal Ferguson , Finance Director
Mr Dougal Ferguson , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
SALINAS ENERGY LIMITED (SAE) Events
Australia/Sydney
SALINAS ENERGY LIMITED (SAE)
| Paris Valley Update | Thu, 3 Dec 2009 |
| Change of Company Name | Thu, 3 Dec 2009 |
| Cleansing Statement | Wed, 2 Dec 2009 |
| Appendix 3B | Wed, 2 Dec 2009 |
| 2009 AGM Presentation | Fri, 27 Nov 2009 |
| Results of Meeting | Fri, 27 Nov 2009 |
| Salinas raises $5.7 million | Thu, 26 Nov 2009 |
| Trading Halt | Mon, 23 Nov 2009 |
| Paris Valley acquired with drilling to commence shortly | Wed, 11 Nov 2009 |
| Appendix 3B | Mon, 9 Nov 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JOHN BEGG, MANAGING DIRECTOR OF SALINAS ENERGY LIMITED (SAE)
“2008 Annual Financial Report”
http://www.brr.com.au/event/51973
THURSDAY, OCTOBER 2, 2008, 12:00 PM.
BRR You’re listening to Boardroom Radio. Today we’ve got John Begg, Managing Director for Salinas Energy.
10
On the line, how are going there John?
SAE Yes, very good. Thanks.
BRR So, SAE have just released their financial report for the year ending 2008.
15 Can you please tell us on the pertinent points?
SAE Well, this year with our first real year of oil production, we had a small amount of oil production in 2007 fiscal year but this year we really began cranking up our production, in particular, heading our stretch for the production rates in around about June. We generated sales revenue in the fiscal year of almost
20 $15 million and that lead to a profit before write-ups of $4 million. We’ve taken a pretty lean approach to this and written off as much of our historic capital expenditures as we can and that’s setting us up for a very good result this coming fiscal year. We would expect to be in profit to the tune of $10 million to $15 million at least in this fiscal year. So, after very good start on
25 our producing project, North San Ardo, our first producing project to long term project and you know this is the start of a long term, healthy revenue profile from that project.
BRR So John, they sound like promising figures so they take into account capital
30 expenditure on your growth project.
SAE Well, yes they do. We publicised, I think quite widely, type of programs we’d be carrying out a lot of drilling including obviously the development drilling at North San Ardo itself but drilling at (inaudible) project drilling on our exploration projects in the San Joaquin Basin and other ventures for which
35 we’re making capital allowance. So, those sort of profit projections allows to having paid full of that works, so we’re self-funding our growth and of course fairly difficult times in the stock market at the present time but our company doesn’t need to raise capital. We’re fully funded for a lot of growth activities.
40 BRR In time for Salinas Energy indeed. Just to reiterate, we’ve got John Begg, Managing Director for Salinas Energy on the line.
So John, if any interested listeners would like to ask more or to inquire, what are your company details and contact details?
45 SAE Well, of course they can email us at info@salinasenergy.com or give us a call at our head office in Perth, which is (08) 9380 2111.
BRR Once again, thanks John for your time.
SAE Oh, thank you then.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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