Miller Energy Resources Reports $271 Million in Record Profits for the Third Quarter
HUNTSVILLE, TN--(Marketwire - March 24, 2010) - Miller Petroleum, Inc. dba Miller Energy Resources ("Miller") (OTCBB: MILL) announced today that it had net income of $271.9 million for the third quarter ending January 31, 2010. This represents earnings for the quarter of $12.44 per outstanding share and earnings of $9.51 per fully diluted share. The net income for the quarter is a direct result of the acquisition in December 2009 of oil and gas assets from Pacific Energy Resources through a Chapter 11 U.S. Bankruptcy proceeding in which Miller acquired onshore and offshore production and processing facilities, an offshore energy platform, over 600,000 net lease acres of land with hundreds of miles of 2-D and 3-D geologic seismic data, miscellaneous roads, pads and facilities. On March 3, 2010, Miller announced that its Alaskan operations were producing more than 800 BOED and on March 15, 2010, Miller announced
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