Paris Energy Files Financial, Operating Results and Reserves Data Report for 12 Months Ended November 30, 2012
Paris Energy Inc. (PI.V) has filed its financial statements for the 12 months ended November 30, 2012.
Production for the year averaged 18 BOE per day, from 3 shallow gas wells located in Southern Alberta. Revenue for the year totaled $121,000, down from $207,000 for 2011. Lower revenue resulted from lower gas prices and production.
Paris also reported that as a result of equity issues and the sale of non-producing properties and surplus equipment the Company has eliminated its debt. In addition during 2012 an outstanding legal action in which Paris was a defendant was settled, at no cost to the Company.
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