Midnight Oil Exploration Ltd. announced consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company net loss was $3.2 million or $0.06 per basic and diluted share on sales of $5.5 million, compared to net income of $1.7 million or $0.03 per basic and diluted share on sales of $14.9 million, a year ago. Funds from operations were $1.6 million or $0.03 per basic and diluted share, compared to funds from operations of $7.9 million or $0.17 per basic and diluted share, a year ago. Petroleum and natural gas additions were $4.0 million compared to $6.4 million a year ago. For the nine months, the company net loss was $8.8 million or $0.16 per basic and diluted share on sales of $17.03 million, compared to net income of $3.8 million or $0.08 per basic and diluted share on sales of $41.8 million, a year ago. Netback was $8.3 million compared to $26.1 million a year ago. Funds from operations were $5.4 million or $0.10 per basic and diluted share, compared to funds from operations of $21.8 million or $0.46 per basic and diluted share, a year ago. Petroleum and natural gas additions were $32.4 million compared to $22.7 million a year ago. Net debt was $9.9 million compared to $29.5 million a year ago.

Midnight Oil Exploration Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported total revenues of CAD 4,166,000 against CAD 11,759,000 a year ago. Loss before taxes was CAD 4,234,000 against income before taxes of CAD 2,279,000 a year ago. For the nine months, the company reported total revenues of CAD 13,590,000 against CAD 32,612,000 a year ago. Loss before taxes was CAD 11,611,000 against income before taxes of CAD 5,318,000 a year ago.

Midnight Oil Exploration Ltd. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, net and comprehensive loss was CAD 3.67 million or CAD 0.06 basic and diluted loss per share on revenues of CAD 5.094 million compared to net and comprehensive income of CAD 2.17 million or CAD 0.05 basic and diluted income per share on revenues of CAD 12.05 million for the same period of last year. Loss before taxes was CAD 4.81 million compared to income before taxes of CAD 2.98 million of previous year period. Cash flow from operations was CAD 0.097 million against CAD 3.80 million for the same period of last year. Petroleum and natural gas additions were CAD 4.08 million against CAD 4.69 million for the same period in the last year. Net debt as at June 30, 2009 was CAD 23.94 million against CAD 31.04 million as at June 30, 2008. For the six months ended June 30, 2009, net and comprehensive loss was CAD 5.58 million or CAD 0.11 basic and diluted loss per share on revenues of CAD 9.42 million compared to net and comprehensive income of CAD 2.18 million or CAD 0.05 basic and diluted income per share on revenues of CAD 20.85 million for the same period of last year. Loss before taxes was CAD 7.38 million compared to income before taxes of CAD 3.04 million of previous year period. Cash flow from operations was CAD 3.47 million against CAD 12.26 million for the same period of last year. Petroleum and natural gas additions were CAD 28.36 million against CAD 16.32 million for the same period in the last year.