11:45 AM EST - Action Energy Inc. : filed its delayed 2006 results Wednesday, showing a $6.9-million net loss on sales of $3.6 million. Action, whose filing had been delayed by audit work following its November combination with High Plains Energy Inc., said the year's loss was worth 34 cents per share. This compared with a 2005 net loss of $1.2 million, 11 cents per share, on sales of $2.4 million. Capital spending was reported at $52.1 million in 2006, up from $2.2 million in the prior year. Fourth-quarter sales were $1.7 million, up from $710,000, with a net loss of $2.5 million or 11 cents per share, compared with a loss of $367,000 or three cents per share in the final three months of 2005. October-December capital expenditures were $44.2 million, up from $154,000, and the quarter's production averaged 402 barrels of oil equivalent per day, 55 per cent natural gas, up from 121 boe per day a year earlier. Action reported proved and probable reserves of 8.8 million boe at Dec. 31, up 24 per cent on the year. Action Energy Inc.
shares AEC:CA are trading down thirteen cents at $3.27.
