03:48 PM EST - Sharon Energy Ltd : Reports its financial results for the third quarter ended December 31, 2008, declined as the combination of retreating natural gas and oil prices during the quarter combined with a decline in the Company's quarterly production. Revenue for the three-month period ended December 31, 2008, totaled $536,000 compared with $795,000 in the three month period ended December 31, 2007. For the nine-month period, revenue totalled $3.4 million compared with $2.2 million for the prior year period. Cash flow from operations decreased to $209,000 for the quarter compared with $391,000 for the prior-year quarter. For the nine-month period, cash flows totalled $2.2 million or $0.03 per share compared with $911,000 or $0.01 per share for the prior-year period. Sharon reported a loss for the three-month period of $206,000 versus a loss of $35,000 in the prior-year three-month period. For the nine month period, Sharon had a loss of $206,000 versus a loss of $520,000 in the prior year. Sharon Energy Ltd.
shares V.SHY are trading up $0.01 at $0.06.
