FORM 10-K CONTANGO OIL & GAS COMPANY

Item 6. Selected Financial Data
Year Ended June 30,
2009 2008 2007 2006 2005
Financial Data:
(Dollar amounts in 000s, except per share amounts)
Revenues:
Natural gas and oil sales…………………………... $ 190,656 $ 116,498 $ 14,140 $ 776 $ 1,051
Total revenues…………………………………… $ 190,656 $ 116,498 $ 14,140 $ 776 $ 1,051
Income (loss) from continuing operations………… $ 55,861 $ 83,221 $ (1,078) $ (6,888) $ (3,191)
Discontinued operations, net of income taxes……… - 173,685 (1,617) 6,681 15,609
Net income (loss)……………………………………… $ 55,861 $ 256,906 $ (2,695) $ (207) $ 12,418
Preferred stock dividends…………………………… - 1,548 540 601 420
Net income (loss) attributable
to common stock…………………………………… $ 55,861 $ 255,358 $ (3,235) $ (808) $ 11,998
Net income (loss) per share:
Basic
Continuing operations………………………… $ 3.41 $ 5.05 $ (0.03) $ (0.50) $ (0.27)
Discontinued operations……………………… - 10.73 (0.18) 0.45 1.19
Total…………………………………………… $ 3.41 $ 15.78 $ (0.21) $ (0.05) $ 0.92
Diluted
Continuing operations………………………… $ 3.35 $ 4.82 $ (0.03) $ (0.50) $ (0.27)
Discontinued operations……………………… - 10.06 (0.18) 0.45 1.19
Total…………………………………………… $ 3.35 $ 14.88 $ (0.21) $ (0.05) $ 0.92
Weighted average shares outstanding:
Basic………………………………………………… 16,363 16,185 15,430 14,760 13,089
Diluted……………………………………………… 16,690 17,263 15,430 14,760 13,089
Working capital (deficit)……………………………… $ 43,232 $ 29,913 $ (4,088) $ 18,333 $ 28,839
Capital expenditures………………………………… $ 47,306 $ 430,269 $ 78,997 $ 34,879 $ 9,677
Long term debt……………….……………………… $ - $ 15,000 $ 20,000 $ 10,000 $ -
Stockholders' equity…………….…………………… $ 349,364 $ 341,998 $ 90,804 $ 62,540 $ 50,979
Total assets……...……………………..……………… $ 517,042 $ 599,974 $ 153,936 $ 89,385 $ 53,353
Proved Reserve Data:
Total proved reserves (Mmcfe)…………………… 355,046 369,076 84,876 3,430 1,373
Pre-tax net present value (Disc. at 10%)…………… $ 889,865 $ 3,183,843 $ 329,179 $ 8,852 $ 7,081
27