FORM 10-K CONTANGO OIL & GAS COMPANY

CONTANGO OIL & GAS COMPANY AND SUBSIDIARIES
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
Quarterly Results of Operations. The following table sets forth the results of operations by
quarter for the years ended June 30, 2009 and 2008:
Quarter Ended
Sept. 30, Dec. 31, Mar. 31, June 30,
($000, except per share amounts)
Fiscal Year 2009:
Revenues from continuing operations……………………… $ 72,721 $ 45,517 $ 36,133 $ 36,285
Income from continuing operations (1)…………………...… $ 51,198 $ 31,259 $ 2,025 $ 8,671
Net income attributable
to common stock………………………………………… $ 30,920 $ 18,917 $ 848 $ 5,176
Net income per share (2):
Basic:
Continuing operations………………………………… $ 1.83 $ 1.14 $ 0.05 $ 0.33
Diluted:
Continuing operations………………………………… $ 1.80 $ 1.12 $ 0.05 $ 0.32
Fiscal Year 2008:
Revenues from continuing operations……………………… $ 9,096 $ 16,596 $ 20,559 $ 70,246
Income from continuing operations (1)…………………...… $ 5,377 $ 7,693 $ 43,965 $ 26,186
Net income attributable
to common stock………………………………………… $ 5,721 $ 111,274 $ 112,399 $ 25,964
Net income per share (2):
Basic:
Continuing operations………………………………… $ 0.31 $ 0.45 $ 2.70 $ 1.58
Discontinued operations………………………………… $ 0.05 $ 6.49 $ 4.27 $ -
Diluted:
Continuing operations………………………………… $ 0.31 $ 0.45 $ 2.57 $ 1.52
Discontinued operations………………………………… $ 0.04 $ 6.02 $ 4.02 $ -
(1) Represents natural gas and oil sales, less operating expenses, exploration expenses, depreciation, depletion and
amortization, impairment of natural gas and oil properties, and general and administrative expense and other
income after expense for income taxes.
(2) The sum of the individual quarterly earnings per share may not agree with year-to-date earnings per share as each
quarterly computation is based on the income for that quarter and the weighted average number of common shares
outstanding during that quarter.
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