CALGARY (CP) -- Rival Energy Ltd. [TSXv:RGY] released unaudited 2005 results Tuesday, saying its corporate cash flow doubled to C$8.7 million last year from C$4.4 million in 2004.
That amounted to 45 cents a share, up from 23 cents in 2004, thanks largely to booming commodity prices.
The company also released 2006 guidance, forecasting cash flow of between C$10 million and C$12 million, or 55 cents to 60 cents per share.
Rival is budgeting production to average 1,000 barrels of oil equivalent per day for the year.
It has established a capital expenditure budget of C$12 million to C$15 million.
On Tuesday, Rival shares dropped six cents on the TSX Venture Exchange to trade at C$1.63.
(c) The Canadian Press 2006
