Petrolifera Petroleum Ltd., 2009 Earnings Call, Mar-12-2010

Petrolifera Petroleum Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. For the fourth quarter of 2009, the company reported a net loss of CAD 4.1 million, which equated to a net loss of CAD 0.03 per weighted average basic and diluted share, compared to net earnings of CAD 2.7 million, which equated to CAD 0.05 per weighted average basic and diluted share for the same period in 2008. A net loss was recognized during the fourth quarter of 2009, compared to the net earnings in the same quarter in 2008, due to lower sales volumes, lower selling prices and foreign exchange losses. For the three months ended December 31, 2009, the company's comprehensive loss was CAD 7.1 million as compared to the comprehensive income in the same 2008 period of CAD 22.8 million. The comprehensive loss during the three months ended December 31, 2009, was due to the aforementioned net loss combined with a 2% strengthening of the Canadian dollar, relative to the US dollar, which reduced the reported net assets of the company's Argentinean operations, as denominated in US dollars. Total revenues were CAD 17.9 million against CAD 37.4 million for the same period a year ago. Capital expenditures were CAD 12.1 million against CAD 35.5 million for the same period a year ago. For the full year, the company reported net loss of CAD 10.8 million or CAD 0.14 per diluted share on total revenues of CAD 83.8 million against net earnings of CAD 11.6 million or CAD 0.22 per diluted share on total revenues of CAD 130.3 million for the same period a year ago. Capital expenditures were CAD 71.6 million against CAD 116.8 million for the same period a year ago. Cash flow provided by operating activities was CAD 41.4 million against CAD 50.3 million for the same period a year ago. Comprehensive loss was CAD 30.7 million against comprehensive income of CAD 38.3 million for the same period a year ago. Loss before income taxes was CAD 6.9 million against earnings before income taxes of CAD 25.9 million for the same period a year ago. The company reported EBITDA of CAD 40.0 million.

Petrolifera Petroleum Ltd., Annual General Meeting, May 05, 2010 Location: Calgary, Alberta, Canada.