09:48 AM EST - Arcan Resources Ltd. : reported funds from operations of $2.0 million or $0.05 per share for the first quarter of 2009, compared to $6.2 million or $0.16 per share in the prior-year quarter. Net loss was $1.3 million or C$0.03 per share, compared to net income of $1.6 million or $0.04 per share in the year-ago quarter. Total petroleum and natural gas revenue declined 48 per cent to $5.7 million from $11.1 million in the previous year quarter. Arcan Resources Ltd.
shares V.ARN are trading even at $0.88.
