03:42 PM EST - Zapata Energy Corp. : reported full year net income of $5.93 million or $0.34 per share, compared to $9.90 million or $0.58 per share in the year ago quarter. Total revenue for the year declined to $54.89 million from $58.94 million in last year. Zapata's daily production improved 5% to 3,128 barrels of oil equivalent per day, with equal production of oil and natural gas. Zapata, by the end of fiscal 2007, expects to reduce its net debt by $11.0 million. Zapata Energy Corp.
shares V.ZCO are trading off 2 cents at $3.86.
