Total revenue increased 240% to $28.2 million in the second quarter of 2008, compared to $8.3 million in the same quarter in 2007. Earnings before interest, income taxes, depreciation, depletion and amortization, and exploration expense (EBITDAX) increased 581% to approximately $17.7 million for the second quarter of 2008, compared to $2.6 million in the same quarter of 2007.
For the first half of 2008, net income was $12 million, or $0.80 per share, compared to a net loss of $463,000, or $0.05 per share, in the first half of 2007. Total revenue was $52.2 million in the first half of 2008, compared to $12.4 million in the same period of 2007. EBITDAX for the first six months of 2008 increased 552% to approximately $30 million, compared to $4.6 million in the first half of 2007.
