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Cobra Venture Corporation (CBV:TSX-V) is engaged in the exploration and development of petroleum and natural gas in western Canada. The company has assembled varying interests in several core areas that hold significant potential. Cobra has established a strong foundation of initial production and is forecasting continued production growth over the next few years.
Cobra has been very successful in its Viewfield project development to date and the potential remains to unlock significant additional value in the area. With stronger oil prices in fiscal Q4 and Q1 ended November 30 and February 28, respectively, Cobra has strung together two consecutive quarters with very positive results in terms of total revenues and net income. As at February 28, 2010, Cobra had a strong balance sheet with working capital of $1.5 million or $0.10 per share and no long-term debt.
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