Petrominerales Ltd. announced earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's net income was $26,224,000 or $0.26 per diluted share compared to $57,951,000 or $0.57 per diluted share a year ago. Crude oil revenue was $119,485,000 compared with $125,065,000 a year ago. Funds flow from operations was $71,709,000 or $0.71 per diluted share compared with $78,343,000 or $0.75 per diluted share a year ago. Capital expenditures were $53,998,000 compared with $73,080,000 a year ago. For the nine months, the company's net income was $48,935,000 or $0.49 per diluted share compared to $110,866,000 or $1.08 per diluted share a year ago. Crude oil revenue was $300,660,000 compared with $272,572,000 a year ago. Funds flow from operations was $177,653,000 or $1.75 per diluted share compared with $176,721,000 or $1.68 per diluted share a year ago. Capital expenditures were $198,896,000 compared with $221,292,000 a year ago. As on September 30, 2009, the company's net debt was $87,889,000.

Petrominerales Ltd expected to Report Fiscal Year 2009 Results on March 1, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

Petrominerales Ltd. announced third quarter financial and operating results with 73% increase in production to 21,546 barrels of oil per day and net income of $26.2 million. The company plans to sell its Orito property. The company stated: “We have temporarily suspended our development drilling program as part of our strategy to refocus capital deployment to the highest value-add areas of our portfolio. We have received expressions of interest for our Orito property and we are considering a sale of this non-core asset.”