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Brownstone Ventures Inc. Releases Unaudited Results for the Three Months Ended September 30, 2009

^{Published on 2009-11-25 12:59:34 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2009) - Brownstone Ventures Inc. (TSX VENTURE:BWN) today announced its unaudited results for the three months ended September 30, 2009.

As at September 30, 2009, the Company had cash and cash equivalents, investments in bond, and bank deposit notes of $5.4 million as compared to $6.2 million as at June 30, 2009. Investments at fair value, excluding investments in bond and bank deposit notes, totaled $21.5 million at September 30, 2009 as compared to $15.4 million at June 30, 2009. Also at September 30, 2009, oil & gas properties and related expenditures totaled $35.2 million as compared to $38.1 million as at June 30, 2009.

Financial Highlights for the three months ending September 30, 2009 with comparatives:

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Operating Results Three months ended
(Unaudited) September 30,
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 2009 2008
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Realized gains on disposal of 
 investments, net $ 77,556 $ 1,444,737
Unrealized gains (losses) on 
 investments, net 3,687,641 (33,114,939)
Net investment gains (losses) 3,765,197 (31,670,202)
Total expenses 4,148,461 732,248
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Net loss for the period 648,126 27,046,166
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Basic and diluted loss per common share 0.01 0.54
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Balance Sheet Highlights
(Unaudited) September 30, 2009 June 30, 2009
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Cash and cash equivalents, investment
 in bonds, and bank deposit notes $ 5,437,597 $ 6,221,518
Investments, at fair value (excluding
 investment in bond and bank 
 deposit notes) 21,470,157 15,409,917
Oil & gas properties and related
 expenditures 35,205,514 38,145,216
Total assets 70,035,216 70,638,276
Total liabilities 239,089 366,846
Share capital, warrants and contributed
 surplus 68,581,100 68,408,277
Retained earnings 1,215,127 1,863,153
Working Capital 31,190,771 26,708,011
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