Chinook Energy Inc. reported earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company's petroleum and natural gas revenue, net of royalties was CAD 57.3 million compared with CAD 47.2 million a year ago. Cash flow from operations was CAD 23.95 million or CAD 0.11 per basic and diluted share compared with CAD 22.6 million or CAD 0.11 per basic and diluted share a year ago. Net loss from continuing operations was CAD 58.1 million or CAD 0.27 per basic and diluted share compared with CAD 12.2 million or CAD 0.06 per basic and diluted share a year ago. Capital expenditures were CAD 26.3 million compared with CAD 25.5 million a year ago. For the year, the company's petroleum and natural gas revenue, net of royalties was CAD 202.8 million compared with CAD 114.6 million a year ago. Cash flow from operations was CAD 85.0 million or CAD 0.40 per basic and diluted share compared with CAD 51.7 million or CAD 0.32 per basic and diluted share a year ago. Net loss from continuing operations was CAD 63.8 million or CAD 0.30 per basic and diluted share compared with CAD 13.3 million or CAD 0.08 per basic and diluted share a year ago. Capital expenditures were CAD 119.7 million compared with CAD 235.4 million a year ago. As on December 31, 2011, the company's net debt was CAD 134.9 million. For 2012, the company's budgeted production is 13,500 - 14,000 barrels of oil equivalent per day (net of planned asset sales) comprised of 36% oil, 9% natural gas liquids and 55% natural gas with Tunisia comprising 18% on a total barrel of oil equivalent per day basis. Revenue is budgeted at CAD 245 million - CAD 255 million which is made up of 71% oil, 11% natural gas liquids and 18% natural gas with Tunisia comprising 35% of total revenue. Production revenue for 2012 will be negatively impacted by a much lower natural gas price but positively impacted by increasing crude oil volumes priced off Brent. Cash flow is estimated to be CAD 120 million - CAD 125 million with 57% coming from Tunisia and 43% from Canada. Capital expenditures are estimated to be CAD 165 million with 58% invested in Tunisia and 42% invested in Canada. Year end debt is estimated to be CAD 120 million - CAD 125 million.