Bengal Energy Ltd. (TSX: BNG) is an international oil and gas exploration and production company with producing and prospective light oil-weighted onshore assets in Australia’s Cooper Basin. Bengal offers unique exposure to high potential impact exploration projects underpinned by lower risk current production and cash flow. The Company’s production stream consists predominantly of ultra light, sweet crude oil (52° API) out of Australia, which commands a premium price to the Brent benchmark.
Bengal is focused on achieving per share growth in cash flow, production and reserves from its current asset base, while continuing to pursue long-term growth by establishing an attractive portfolio of future drilling and exploration opportunities.
Bengal’s common shares are listed for trading on Toronto Stock Exchange under ticker ‘BNG’.
$59.68 including hedge
(2) Operating netback is a non-IFRS measure and includes realized (loss) gain on financial instruments. Netback per bbl is calculated by dividing revenue (including realized gain (loss) on financial instruments) less royalties and operating costs by the total production of the Company measured in bbls
Bengal Energy Ltd. was formed after its predecessor, Bengal Energy Inc., a private oil and gas exploration and acquisition company, was purchased by Avery Resources in February 2008. Avery Resources changed its name to Bengal Energy Ltd. in July 2008 to reflect the Company’s international oil and gas focus. On July 22, 2008, the Company consolidated its shares on a 5:1 basis and commenced trading on the TSX.