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Bengal Energy Higher After Halving EPS Loss, Nearly Four-Fold Jump in Revenues

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Bengal Energy Ltd. (BNG.TO) is up nearly 5% at $1.07 per share in early trade after the exploration and production company reported a $1.06 million net loss, or 2 cents per share, during the three months ended June 30. On a nominal basis, that was wider than the $570,000 net loss reported in the year-ago quarter although on a per-share basis, it was half of the 4-cent loss during the same three months in 2010.

Oil revenues also boomed during the latest quarter, rising to $1.21 million from only $202,000 last year, and carrying overall revenues to a 378 percent increase at $1.32 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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