Tag - RAL

Rally Energy Corp. is a Calgary-based oil and gas company with primary operations in Egypt and exploration activities in Pakistan.

Rally’s Egyptian property is the Issaran oilfield, a 72-square-kilometer tract with 127 MM BBL estimated reserves. In Pakistan, the company participates in a 200,000-acre concession with 3.0 trillion cubic feet natural gas estimated reserves.

Average production was 6,300 barrels per day in Egypt and 6 million cubic feet per day in Pakistan in the first quarter 2007. (Natural gas production in Pakistan is expected to increase to 15 MMCF/D in the third quarter.)

In the second quarter 2007 revenues increased 32% to 25.8 million from 2006. Net earnings were up 38% to 5.8 million for the quarter. For the six months ended June 30, 2007, revenues were 48.8 million, up 64% from $29.7 million in 2006. Net earnings for the first six months were $10.4 million, more than double 2006’s results of $5.1 million. Capital expenditures increased 235% to $47.5 million in the first six months as opposed to $14.2 million in 2006.

(On August 1, Citadel Capital, a leading private equity firm, announced its intention to acquire the company at a price of $7.30 per share. The transaction has received all necessary approvals and should be concluded on September 21, 2007.)

Rally Energy Corp. is a Calgary-based oil and gas company with primary operations in Egypt and exploration activities in Pakistan.

Rally’s Egyptian property is the Issaran oilfield, a 72-square-kilometer tract with 127 MM BBL estimated reserves. In Pakistan, the company participates in a 200,000-acre concession with 3.0 trillion cubic feet natural gas estimated reserves.

Average production was 6,300 barrels per day in Egypt and 6 million cubic feet per day in Pakistan in the first quarter 2007. (Natural gas production in Pakistan is expected to increase to 15 MMCF/D in the third quarter.)

In the second quarter 2007 revenues increased 32% to 25.8 million from 2006. Net earnings were up 38% to 5.8 million for the quarter. For the six months ended June 30, 2007, revenues were 48.8 million, up 64% from $29.7 million in 2006. Net earnings for the first six months were $10.4 million, more than double 2006’s results of $5.1 million. Capital expenditures increased 235% to $47.5 million in the first six months as opposed to $14.2 million in 2006.

(On August 1, Citadel Capital, a leading private equity firm, announced its intention to acquire the company at a price of $7.30 per share. The transaction has received all necessary approvals and should be concluded on September 21, 2007.)