petrowest energy services trust announces $94.2 million of ... - BMIR

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Petrowest Energy Services TrustConsolidated Statement of Loss, Comprehensive Loss and AccumulatedEarningsFor the three months ended March 31, 2007(Unaudited)$000’sRevenue 32,863ExpensesOperating expenses 25,346General and administrative 1,691Interest 544Amortization 7,31134,892(2,029)Other incomeLoss on disposal of property and equipment (246)Interest income 50(196)Net loss and comprehensive loss for the period (2,225)Accumulated earnings- beginning of period 3,379Accumulated earnings- end of period 1,154Net loss per unit - basic and diluted (note 8) ($0.08)See accompanying notes to the interim unaudited consolidated financial statements- 24 -
Petrowest Energy Services TrustConsolidated Statement of Cash FlowsFor the three months ended March 31, 2007Cash provided by (used in)(Unaudited)$000’sOperating activitiesNet loss for the period (2,225)Items not affecting cashAmortization of tangible assets 5,131Amortization of intangible assets 2,180Unit-based compensation 270Loss on disposal of property and equipment 2465,602Changes in non-cash working capitalAccounts receivable 1,902Prepaid expenses (725)Inventory (276)Accounts payable and accrued liabilities (8,231)(1,728)Financing activitiesUnitholder distributions (8,603)Proceeds from revolving term bank loan 10,0001,397Investing activitiesAdjustments to the Acquisition of Acquired Companies–working capital 119Proceeds on property and equipment disposals 936Purchase of property and equipment (3,730)Purchase price adjustment (6,422)(9,097)Decrease in cash and cash equivalents (9,428)Cash and cash equivalents, beginning of period 9,312Bank overdraft, end of period (116)Supplementary informationInterest paid 544Income taxes paid -Non cash transactionsProperty and equipment purchase through capital leases 590See accompanying notes to the interim unaudited consolidated financial statements- 25 -
Page 1 and 2: PETROWEST ENERGY SERVICES TRUST ANN
Page 3 and 4: STRATEGIC ALLIANCEPetrowest has ent
Page 5 and 6: for the period ended December 31, 2
Page 7 and 8: DESCRIPTION OF BUSINESSPetrowest is
Page 9 and 10: or negotiations on work tied to a n
Page 11 and 12: SUMMARY OF RESULTS- QUARTERLY ANALY
Page 13 and 14: The Transportation segment costs in
Page 15 and 16: RECONCILIATION OF NET EARNINGS TO E
Page 17 and 18: PROPERTY AND EQUIPMENT EXPENDITURES
Page 19 and 20: The Trust has no financial instrume
Page 21 and 22: Management and the Board of Directo
Page 23: Petrowest Energy Services TrustCons
Page 27 and 28: Petrowest Energy Services TrustNote

petrowest energy services trust announces $94.2 million of ... - BMIR

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