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List:       ipaq
Subject:    [iPAQ] Capital City Energy Releases Financials
From:       <investorrelations () ibeammail ! com>
Date:       2008-05-29 11:40:24
Message-ID: 76AB6069B06B43B1A7DE982BD05B2D04 () ibeamcolo ! local
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Capital City Energy Group, Inc. (OTCBB: CETG), a diversified energy company, released its financial results for the first quarter of 2008. Revenue was $561,065 and net income rose to $111,022 during the first quarter of 2008 compared to revenue of $700,148 and a net loss of $9,836 recorded during the first quarter of 2007. Lower interest expense combined with a net gain on sale of assets helped boost net income over the same period in 2007. Total net oil and gas production realized from principal investments was 33,892 MCF of natural gas and 4,798 barrels of oil during the first quarter of 2008. Shares fell by $0.25 for the week, to close at $2.50.

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