Arcan Resources Ltd. (Arcan) is engaged in the exploration for, and the development and production of petroleum and natural gas in Western Canada. During the year ended December 31, 2010, Arcan had three areas of operation: the natural gas prone McLeod area, which had a net average production of approximately 86 barrels of oil equivalent per day; the Hamburg/Chinchaga area, which had a net average production of approximately 509 barrels of oil equivalent per day, and the Swan Hills area, including the Unit, which had a net average production of approximately 1,648 barrels of oil equivalent per day. On March 31, 2010, Arcan completed the acquisition in the Swan Hills area and holds 150 gross (140 net) sections of land on this play. As of December 31, 2010, Arcan had drilled or re-entered 24 (21.3 net) horizontal wells, 23 (20.3 net), of which had been multistage fractured, and Arcan is drilling its 25th and 26th wells.
|Headquarters||Suite 2500, 308 - 4th Avenue S.W.|
CALGARY, AB, Canada T2P 0H7
|Chairman of the Board, Corporate Secretary||Michael Laffin|
|President, Director||Douglas Penner|
|Interim Chief Executive Officer, Director||J. Terry McCoy|
|Chief Financial Officer, Vice President - Finance||Graeme Ryder|
|Vice President - Operations||Kyle Baumgardner|
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|Shares Out.||97.9M||Book Value||$2.53|
|Annual Dividend Rate||$0.00||Price/Sales (TTM)||0.4|
|Ex-Div Date||1/1/01||P/Cash Flow (TTM)||--|
|Pay Date||1/1/01||Operating Margin||-47.44%|
*GAAP = prior to non-GAAP analyst adjusted earnings.