09:51 AM EST - Storm Exploration Inc. : reported a more than two-fold rise in its fourth-quarter profit, helped by a 36-per-cent growth in production. Going forward, the company expects a 14-per-cent year-over-year increase in its production for the final quarter of 2009. The company's fourth-quarter net income was $5.97 million, or $0.13 per share, compared with $2.85 million, or $0.06 per share, last year. Funds from operations rose to $20.43 million, or $0.45 per share, from $13.23 million, or $0.30 per share, in the year-ago quarter. Production revenues totaled $35.45 million in the quarter, up from $25.55 million in the prior-year quarter. Storm Exploration Inc.
shares T.SEO are trading down $0.11 at $9.11.
