yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News

2008 West
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
Red Hat
The Opening of Virtualization
User Environment Management – The Third Layer of the Desktop
Cloud Computing for Business Agility
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Return on Assests: Bringing Visibility to your SOA Strategy
Managing Hybrid Endpoint Environments
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
How Can AJAX Improve Homeland Security?
Beyond Widgets: What a RIA Platform Should Offer
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
Top Links You Must Click On

Twoco Petroleums Ltd. Third Quarter Highlights and 2012 Update

CALGARY, ALBERTA -- (Marketwire) -- 11/29/12 -- Twoco Petroleums Ltd. ("Twoco" or the "Company") (TSX VENTURE:TWO) announces financial and operating results for the quarter ended September 30, 2012 and an update of its 2012 activities.

Twoco has filed the following documents on the System for Electronic Document Analysis and Retrieval (SEDAR):

1.  Unaudited condensed interim financial statements as at and for the
    quarter ended September 30, 2012, together with the notes therein as
    prepared in accordance with International Financial Reporting Standards;
2.  Management's discussion and analysis of financial condition and results
    of operations as at and for the quarter ended September 30, 2012.

Copies of these documents may be obtained via SEDAR at

Highlights of the Third Quarter 2012 include:

--  Petroleum and natural gas sales revenue of $913,357 - a 36% decrease
    from the Third Quarter 2011 - predominantly due to the decrease in
    natural gas production and natural gas prices; 
--  Cash flow used by operations of $42,298. During the nine months ended
    September 30, 2012, the Company had cash flow from operations of
--  Average production of 339 boe per day (includes 113 barrels per day of
    oil and natural gas liquids) - a 45% decrease from the Third Quarter
    2011 - a result of shut-in natural gas volumes due to low natural gas
    prices, a lack of natural gas drilling activity and production declines
    of the Company's natural gas properties. Current oil production is
    approximately 120 barrels per day; 
--  Average production of 113 barrels per day of oil and natural gas liquids
    from the Company's Warspite heavy oil property represents an 8% increase
    in the average production of oil and natural gas liquids from the Third
    Quarter 2011;  
--  Operating netback of $454,583 ($14.55 per boe); 
--  Operating netback of $48.48 per barrel in respect of the Company's
    production of Sparky heavy oil; 
--  Net loss of $1,037,986; 
--  Capital expenditures of $65,996; 
--  Current land position of 105,431 gross (76,782 net) acres; 
--  Operating costs of $10.54 per boe; 
--  General and administrative expenses of $6.34 per boe; and 
--  In the Third Quarter 2012, the Company issued a total of 948,256 common
    shares in payment of interest accrued to September 30, 2012 on its $3.4
    million principal amount of redeemable, convertible, unsecured 8%

Highlights of Twoco's operations for the 2012 year to date include:

--  Current production of 338 boe per day (includes approximately 120
    barrels per day of oil and natural gas liquids);  
--  Twoco estimates current shut-in and behind pipe production capability of
    400 boe per day; and 
--  The next review date of the Company's credit facilities was to take
    place on September 30, 2012; however, the review has not yet occurred.
    The Company and its Bank remain in discussions concerning the next
    scheduled review date. Effective October 31, 2012, the Bank has agreed
    to defer collection of monthly interest on the Company's $18,000,000
    revolving credit facility as well as the $50,000 working capital waiver
    fee otherwise due on October 31, 2012. Such monthly interest is
    currently being added to the principal amount of the Company's revolving
    credit facility.

Management has been working on certain strategic alternatives including, but not limited to, recapitalizing the Company through financing arrangements or merging with other companies. The Company continues to require the support of its lenders and creditors and will require additional financing to reduce its working capital deficiency and further develop its oil properties to realize the full potential of the significant proved and probable reserve base. There is no assurance, however, that additional funding will be available, if and when needed, and if such funding is not available, the Company's ability to continue as a going concern will be significantly impaired.

Twoco is an oil and gas company engaged in the exploration for, and the acquisition, development and production of, oil and natural gas reserves primarily in the Province of Alberta. Twoco has 73,905,789 common shares issued and outstanding as at today's date.

In this news release the calculation of barrels of oil equivalent (boe) is calculated at a conversion rate of six thousand cubic feet (Mcf) of natural gas for one barrel (Bbl) of oil based on an energy equivalency conversion method. Boes may be misleading particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1Bbl is based on an energy equivalency conversion method primarily applicable to the burner tip and does not represent a value equivalency at the wellhead.

Forward-Looking Statements:

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including statements regarding the Company's shut-in and behind pipe production capability and its ability to continue as a going concern. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Twoco's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Twoco believes that the expectations in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Twoco does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Twoco Petroleums Ltd.
Wayne A. Malinowski
President and Chief Executive Officer
(403) 231-8653
(403) 237-6048 (FAX)

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Enterprise Open Source Magazine Latest Stories . . .
It is no surprise that OpenStack has evolved into a widely adopted cloud management framework. As it hurtles on a trajectory of rapid growth, a new breed of demands are making themselves felt – demands that a mature platform of this nature and scope must satisfy. One such requirement i...
Using any programming framework to the fullest extent possible first requires an understanding of advanced software architecture concepts. While writing a little client-side JavaScript does not necessarily require as much consideration when designing a scalable software architecture, t...
Test-driven development (TDD) has been around for a while now. Behavior-driven development (BDD), a comparably recent methodology, emerged from the practice of TDD and could reasonably be called a narrower application of TDD. The TDD process allows a developer to use a failing unit t...
Developers generally like to share their code, and many of them do so by open sourcing it on GitHub, a social code hosting and collaboration service. Many companies also use GitHub as a convenient place to host both private and public code repositories by creating GitHub organizations ...
The combined notions of open source and the ‘community contribution’ model of collaborative software application development are, of course, not new. The history of open source is actually traced back to early software exchanges between universities driven by academic principles of kn...
Cloud computing delivers on-demand IT resources that provide businesses flexibility. The challenge is the cost and complexity of cloud security compliance (PCI, HIPAA, FFIEC). Raxak Protect automated cloud security enables cloud apps to be deployed quickly and cost-effectively. Get the...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)!

Advertise on this site! Contact advertising(at)! 201 802-3021

SYS-CON Featured Whitepapers