| Income Statement for Reserve Petroleum Company (RSRV) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 14,333 | 9,933 | 8,523 | 4,265 | 2,910 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (1,910) | (1,865) | (1,501) | (760) | (666) | | Gross Operating Profit | 12,423 | 8,068 | 7,022 | 3,505 | 2,243 | | | Selling/General/Admin Expense | (1,304) | (1,057) | (855) | (784) | (792) | | Research & Development | N/A | N/A | N/A | N/A | N/A | | EBITDA | 11,119 | 7,011 | 6,168 | 2,721 | 1,451 | | Depreciation & Amortization | (1,473) | (1,791) | (1,390) | (919) | (830) | | EBIT | 9,646 | 5,220 | 4,778 | 1,802 | 622 | | Interest Income | 498 | 327 | - | - | - | | Other Income, Net | 245 | 191 | 167 | 313 | 132 | | Total Income Avail For Interest Expense | 10,456 | 5,755 | 5,134 | 2,202 | 759 | | Interest Expense | (4) | (4) | - | - | - | | Pre-Tax Income | 10,452 | 5,751 | 5,134 | 2,202 | 759 | | Income Taxes | (2,924) | (1,476) | (1,322) | (453) | (259) | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | 7,528 | 4,275 | 3,812 | 1,749 | 500 | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | 7,528 | 4,275 | 3,812 | 1,749 | 500 | | | Normalized Income | 7,527 | 4,272 | 3,812 | 1,749 | 500 | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | 0 | 3 | - | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 7,528 | 4,275 | 3,812 | 1,749 | 500 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 6.00 | 0.00 | 2.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 46.25 | 26.14 | 23.17 | 10.56 | 3.00 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | 46.25 | 26.14 | 23.17 | 10.56 | 3.00 | | | Diluted EPS from Continuing Operations | 46.25 | 26.14 | 23.17 | 10.56 | 3.00 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | 46.25 | 26.14 | 23.17 | 10.56 | 3.00 | | | |
