CSPUF Canadian Spirit Resources Inc featured news, full reports, and detailed charts
Canadian Spirit Resources Inc (CSPUF/CSPUF.PK) Wrap Up:
Canadian Spirit Resources Inc., a development stage company, engages in the identification and development of natural gas exploration properties in Canada. It holds interest in a pilot project in the Farrell Creek area of northeast British Columbia, located west of Fort St. John. The company was formerly known as Spirit Energy Corp. and changed its name to Canadian Spirit Resources Inc. in June 2004. Canadian Spirit Resources Inc. is based in Calgary, Canada.Canadian Spirit Resources Inc (CSPUF:Pink OTC Markets Inc)
Snapshot of Canadian Spirit Resources Inc (CSPUF)
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OPEN
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PREVIOUS CLOSE
$1.16
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
11/12/09 - $1.21
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52 WEEK LOW
11/21/08 - $0.18
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MARKET CAP
56.4M
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AVERAGE VOLUME 3 mo
3.9K
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
48.6M
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CSPUF Does Not Pay Dividends
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P/E TTM
NM
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CSPUF Top Compensated Officers
Executives, Board Directors
Key developments for Canadian Spirit Resources Inc (CSPUF)
Canadian Spirit Resources Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported loss before income taxes, net loss and comprehensive loss of CAD 498,413 or CAD 0.01 per basic and diluted share on revenue of CAD 10,411 compared to loss before income taxes, net loss and comprehensive loss of CAD 824,651 or CAD 0.02 per basic and diluted share on revenue of CAD 21,536 for the same period a year ago. Cash flows used in operating activities was CAD 378,152 and computer and office equipment, furniture was CAD 1,616 compared to cash flows used in operating activities of CAD 408,065 and computer and office equipment, furniture of CAD 475 for the same period a year ago. For the six months, the company reported loss before income taxes, net loss and comprehensive loss of CAD 861,319 or CAD 0.02 per basic and diluted share on revenue of CAD 24,481 compared to loss before income taxes of CAD 1,323,472 and net loss and comprehensive loss of CAD 1,150,547 or CAD 0.03 per basic and diluted share on revenue of CAD 43,857 for the same period a year ago. Cash flows used in operating activities was CAD 685,603 and computer and office equipment, furniture was CAD 1,654 compared to cash flows used in operating activities of CAD 711,961 and computer and office equipment, furniture of CAD 10,173 for the same period a year ago.
Canadian Spirit Resources Inc. announced that the first sale of natural gas has commenced at the Farrell Creek, B.C. Pilot Project with natural gas flowing from previously completed and tested Gething Formation wells. Additional Gething wells drilled in 2008 will be completed and put on production during 2009. Commissioning and start-up of the gas processing facility and the pipeline connecting the Pilot Project wells to the Spectra Energy pipeline will enable Shell Canada Energy to perform long-term production testing of these and future Gething wells, while minimizing the flaring of gases into the atmosphere. The primary objective of the Pilot Project is to optimize the completion and production techniques that could be applied for future commercial production from the Farrell Creek Gething Project. The gas processing facility has a capacity of 1.1 million cubic feet per day and can be expanded as required.
Canadian Spirit Resources Inc. announced unaudited earnings results for the first quarter ended March 31, 2009. For the period, the company reported loss before income taxes of CAD 362,906 against CAD 498,821 a year ago. Net loss and comprehensive loss was CAD 362,906 or CAD 0.01 per basic and diluted share on revenues of CAD 14,070 against CAD 325,896 or CAD 0.01 per basic and diluted share on revenues of CAD 22,321 a year ago. Cash flows used in operating activities was CAD 307,451 against CAD 303,896 a year ago. Purchases of furniture and office equipment were amounted to CAD 38 against CAD 9,698 a year ago.
CSPUF Competitors
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Industry Analysis
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| Price/Book | 1.5x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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More Recent News About Canadian Spirit Resources Inc
More news for CSPUF
Canadian Spirit Resources Inc. Announces Amendment to Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwire - Oct. 1, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) announces the amendment of its Normal Course Issuer Bid (the "Bid") through the facilities of the TSX Venture Exchange (the "Exchange") pursuant to Exchange Policy 5.6 (see prior News Releases dated November 26, 2008 and March 12, 2009). The Company has received approval from the Exchange to increase the maximum number of common shares the Company may acquire under the terms of the Bid from 1,000,000 to 1,600,000 common shares. The approved amendment also provides for a change in the designated broker acting on behalf of the Company.As of September 30, 2009, the Company has acquired a total of 974,500 common shares of its capital stock, representing 2.0 percent of the issued and outstanding common shares of CSRI at the beginning of the program. The number of common shares currently issued and outstanding is 48,403,401. Effective October 1, 2009, the Bid will be conducted on behalf of the Company by CIBC World Markets Inc., 161 Bay Street, Toronto, Ontario, M5J 2S8. The duration of the Bid, to November 30, 2009, remains unchanged....Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces Canbriam Energy Inc. Spuds Vertical Well Targeting the Montney Formation at Farrell Creek, B.C.
CALGARY, ALBERTA--(Marketwire - Sept. 29, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) is pleased to announce that joint venture partner Canbriam Energy Inc. ("Canbriam"), operator of the Montney project, has spud a vertical well at the Farrell Creek b-17-I location targeting the Montney Formation. It is anticipated that the b-17-I well will be drilled and completed by Canbriam by late November and is part of a multi-well program planned for the area. Canbriam will fund the cost of this well pursuant to the joint venture agreement. The b-17-I well is located on the western portion of the Company's Farrell Creek lands approximately 500 meters west of the Spectra Energy pipeline. The Company's Farrell Creek Montney lands are comprised of 21 sections in the Western portion of the Farrell Creek lands and 23 sections in the eastern portion of the Farrell Creek lands for a total of 44 gross sections (15.4 net sections to CSRI) of deep rights.There are currently 21 horizontal and 10 vertical Montney wells either drilled or licensed by other operators in Farrell Creek and areas adjacent. Immediately north of the Company's lands...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces Second Quarter 2009 Financial Results
CALGARY, ALBERTA--(Marketwire - Aug. 21, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) announces the release of the interim financial results and Management Discussion and Analysis for the three and six month periods ended June 30, 2009. CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 trillion cubic feet of natural gas from unconventional resource plays in western Canada.The Company is currently evaluating the productive capability of both its shallow Gething play and its deeper Montney play through joint ventures with two well-capitalized partners. Both of these plays are located on the Company's principal resource property at Farrell Creek, British Columbia. Currently, CSRI is well funded with $10.4 million of working capital ($0.21 per share) and no debt and has minimal capital commitments associated with the Farrell Creek property through the end of 2009.Operational Highlights from the Second Quarter- On June 11, 2009 the Company announced its first sale...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces First Gas Sales From Its Gething Pilot Project at Farrell Creek, B.C.
CALGARY, ALBERTA--(Marketwire - June 11, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; OTCBB:CSPUF - News) is pleased to announce that the first sale of natural gas has commenced at the Farrell Creek, B.C. Pilot Project with natural gas flowing from previously completed and tested Gething Formation wells. Additional Gething wells drilled in 2008 will be completed and put on production during 2009. Commissioning and start-up of the gas processing facility and the pipeline connecting the Pilot Project wells to the Spectra Energy pipeline will enable Shell Canada Energy ("Shell" or the "Operator") to perform long-term production testing of these and future Gething wells, while minimizing the flaring of gases into the atmosphere. The primary objective of the Pilot Project is to optimize the completion and production techniques that could be applied for future commercial production from the Farrell Creek Gething Project. The gas processing facility has a capacity of 1.1 million cubic feet per day and can be expanded as required. CSRI Chief Executive Officer, Don Gardner commented "This is a milestone achievement for CSRI and our shareholders and a credit to ...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces First Quarter 2009 Financial Results
CALGARY, ALBERTA--(Marketwire - May 28, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; OTCBB:CSPUF - News) announces the release of the interim financial results and Management Discussion and Analysis for the three month period ended March 31, 2009. CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 trillion cubic feet of natural gas from unconventional resource plays in western Canada.The Company is currently evaluating the productive capability of both its shallow Gething play and its deeper Montney play through joint ventures with two well-capitalized partners. Both of these plays are located on the Company's principal resource property at Farrell Creek, British Columbia. CSRI is well funded with $11.3 million of working capital ($0.23 per share) and has minimal current capital requirements associated with the Farrell Creek property.Operational Highlights from the First Quarter- Construction and tie-in of the Farrell Creek Gething Pilot Project is complete and first sale of gas is imm...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces 2008 Financial Results and Filing of Annual Disclosure Documents
CALGARY, ALBERTA--(Marketwire - April 30, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) announces the release of its financial results and the filing of the Financial Statements, Management Discussion and Analysis and Annual Information Form for the year ended December 31, 2008. HIGHLIGHTS- Tie-in of Farrell Creek pilot project imminent with first sales gas expected in the second quarter 2009.- Two vertical Montney wells drilled to validate rights in seven sections to base Belloy with one well granted "New Pool Discovery" status.- Gething joint venture drills four wells and one water disposal well at the joint venture partner's cost.- Additional rights acquired in thirteen new sections of Montney (8,320 acres) and seven sections (4,480 acres) of Gething in the eastern portion of the Farrell Creek lands.- Private placements, exercise of warrants and joint venture recovery of prior capital expenditures during the year add C$15.5 million (gross) to cash position.- Current C$11.0 million working capital position with minimal capital commitments avoids need to raise equity in difficult marke...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces Insider Share Purchases
CALGARY, ALBERTA--(Marketwire - April 3, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) is pleased to announce that during the three months ended March 31, 2009, directors and officers increased their ownership in the Company by 308,000 common shares. This brings their total ownership, including shares held by associates, to 1.5 million shares. The Company has share ownership guidelines for directors and officers and provides a period of time to achieve such guideline levels. Holdings and transactions by directors and officers of CSRI in the Company's securities may be reviewed at www.sedi.ca. CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 trillion cubic feet of natural gas from unconventional resource plays in western Canada.The Company is currently evaluating the productive cap...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Increases Land Position
CALGARY, ALBERTA--(Marketwire - March 30, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) is pleased to announce that on behalf of the joint venture, the Company was successful in acquiring eight sections (5120 acres) of Montney Formation and other deep rights and two sections (1280 acres) of Gething Formation and other shallow rights at a recent British Columbia crown sale. All of the sections acquired are adjacent to existing CSRI Gething and Montney rights on the east portion of the Farrell Creek property and adds to the material size of this unconventional gas project. At Farrell Creek, the Company now holds a total of approximately 50 sections of Gething and other shallow rights (32,000 acres) and approximately 46 sections of Montney and other deep rights (29,440 acres).CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 trillion cubic feet of natural gas from unconventional resource plays in western Canada.The Company is currently evaluating the productive capabili...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces Extension of Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwire - March 12, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) announces the extension of its Normal Course Issuer Bid (the "Bid") until November 30, 2009 through the facilities of the TSX Venture Exchange (the "Exchange") pursuant to Exchange Policy 5.6 (see News Release dated November 26, 2008). As of March 12, 2009, the Company has acquired a total of 617,500 common shares of its capital stock, representing 1.3 percent of the issued and outstanding common shares of CSRI at the beginning of the program. The number of shares currently issued and outstanding is 48,057,901. The Bid is being conducted on behalf of CSRI by Wolverton Capital Markets, a division of Wolverton Securities Ltd., Suite 2100, 335 8th Avenue S.W., Calgary, Alberta T2P 1C9.CSRI has extended the Bid in order to continue its planned program in light of continued volatility in global equity markets. CSRI is of the opinion that prior trading in the Company's shares did not reasonably reflect the strong working capital position of the Company, the current and planned capital spending by its joint venture partners on the Gething an...Click here to read the whole Article (external link)
Canadian Spirit Resources Inc. Announces Grant of Stock Options
CALGARY, ALBERTA--(Marketwire - Jan. 19, 2009) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI - News; PINK SHEETS:CSPUF - News) announces that subject to TSX Venture Exchange ("TSX-V") acceptance, the Company's Board of Directors has approved a grant of 720,000 options to acquire shares of the Company in accordance with the terms and conditions of the Company's Stock Option Plan. Directors and officers of the Company were granted a total of 500,000 options as compensation for their services as directors and as incentive compensation respectively. Employees of and a consultant to the Company were granted a total of 220,000 options. All the options granted have a term of five years and may be exercised at a price of C$0.68 per share.Currently, the Company has 4,426,000 common shares reserved for issuance of which options to acquire 3,027,000 are outstanding. Subject to acceptance by the TSX-V, this grant of options will result in a total of 3,747,000 options outstanding at exercise prices ranging from C$0.50 to $7.15 per share representing 7.7 percent of the total common shares outstanding.CSRI is a natural resources company focusing on the identification ...Click here to read the whole Article (external link)
