09:30 AM EST - Petro-Canada : reported fourth-quarter operating earnings of $518 million or $1.07 per share, up slightly from $513 million or $1.06 per share in the year-ago quarter. The company said its slightly higher operating earnings reflected the positive impact of lower other expenses, higher downstream margins, lower DD&A and exploration expenses and increased upstream production. The company posted a net loss of $691 million or $1.43 per share, compared to a net profit of $522 million or $1.08 per share in the same quarter of 2007. Fourth-quarter cash flow from operating activities before changes in non-cash working capital totaled $531 million or $1.10 per share, significantly higher than $17 million or $0.04 per share in the same quarter of last year. Petro-Canada
shares T.PCA are trading even at $28.70.
