<PAGE> 1
Exhibit 13.4
WESTLINKS RESOURCES LTD.
BALANCE SHEET
(UNAUDITED)
<TABLE>
<CAPTION>
SEP-30 DEC-31
2000 1999
------------ -----------
<S> <C> <C>
ASSETS
Current:
Cash and short term investments........................... C$ 2,735 C$ 42,288
Accounts receivable....................................... 1,943,621 684,787
Inventory................................................. 43,643
Advances and prepaid expenses............................. 45,494
------------ -----------
2,035,493 727,075
Capital assets.............................................. 19,796,797 7,016,726
Investments................................................. 680,000
Deferred share issuance costs............................... 438,530
------------ -----------
$ 22,950,820 $ 7,743,801
============ ===========
LIABILITIES
Current:
Accounts payable and accrued liabilities.................. $ 3,046,303 $ 687,042
Taxes payable............................................. 848,301
Current portion of bank loan.............................. 0 1,075,000
------------ -----------
3,894,604 1,762,042
Bank loan................................................... 11,140,000 1,525,000
Future income taxes......................................... 658,749 297,793
Provision for site restoration.............................. 254,671 181,332
Shareholders' Equity
Share capital............................................. 4,960,847 3,663,330
Retained earnings (deficit)............................... 2,041,949 314,304
7,002,796 3,977,634
------------ -----------
$ 22,950,820 $ 7,743,801
============ ===========
</TABLE>
<PAGE> 2
WESTLINKS RESOURCES LTD.
STATEMENT OF OPERATIONS AND RETAINED EARNINGS
(UNAUDITED)
<TABLE>
<CAPTION>
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPT. 30, ENDED SEPT. 30,
------------------------- -------------------------
2000 1999 2000 1999
----------- ---------- ----------- ----------
<S> <C> <C> <C> <C>
Revenue:
Oil and gas........................... $ 5,425,568 $ 562,883 $11,663,604 $1,387,075
Royalty costs, net of ARTC............ (1,095,594 (77,791 (2,374,358 (165,116
Other income.......................... 0 0 1,407
----------- ---------- ----------- ----------
4,329,974 485,092 9,289,246 1,223,366
Expenses:
Operating costs....................... 1,388,323 155,757 2,709,548 477,912
Exploration........................... 232,087 2,655 232,087 148,125
General and administrative costs...... 275,659 410,243 793,395 637,480
Interest.............................. 400,002 34,438 629,638 75,730
Depletion, depreciation and site
restoration........................ 1,334,909 161,984 2,712,402 451,301
----------- ---------- ----------- ----------
3,630,979 765,077 7,077,070 1,790,548
Income (loss) before the following...... 698,995 (279,985 2,212,176 (567,182
Gain on sale of oil and gas
properties............................ 96,826 103,558 724,726 143,185
Income before income taxes.............. 795,821 (176,427 2,936,902 (423,997
Current income taxes.................... 848,301 848,301
Future income taxes..................... (492,970 47,145 360,956 (69,000
Net income.............................. 440,490 (223,572 1,727,645 (354,997
Retained earnings, beginning of
period................................ 1,601,459 310,707 314,304 442,132
----------- ---------- ----------- ----------
Retained earnings, end of period........ $ 2,041,949 $ 87,135 $ 2,041,949 $ 87,135
=========== ========== =========== ==========
Common shares outstanding (average)..... 4,432,639 2,640,433 4,365,741 2,640,433
</TABLE>
<PAGE> 3
WESTLINKS RESOURCES LTD.
STATEMENT OF CHANGES IN FINANCIAL POSITION
(UNAUDITED)
<TABLE>
<CAPTION>
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPT. 30, ENDED SEPT. 30,
---------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------ ------------- ------------
<S> <C> <C> <C> <C>
Operating:
Net income.................... C$ 440,490 C$ (87,731) C$ 1,727,645 C$ (220,563)
Items not requiring the outlay
of cash
Future income taxes........ (492,970) (174,626) 360,956 (290,771)
Deletion, depreciation and
site restoration......... 1,334,909 161,984 2,712,402 451,301
Gain on sale of
properties............... (96,826) (103,558) (724,726) (143,185)
Funds generated from
operations............... 1,185,603 (203,931) 4,076,277 (203,218)
Change in non-cash working
capital.................... 1,546,133 739,524 1,859,591 200,674
------------ ------------ ------------- ------------
2,731,736 535,593 5,935,868 (2,544)
Financing:
Issue of common shares, net of
share issue costs.......... 907,517 408,778 1,297,517 410,354
Deferred share issue costs.... (156,420) (438,530)
Bank loan..................... (650,000) 2,340,958 8,540,000 2,790,958
Promissory Notes.............. (2,237,100) 0 0
------------ ------------ ------------- ------------
(2,136,003) 2,749,736 9,398,987 3,201,312
Investing:
Capital expenditures.......... (857,003) (4,269,732) (15,974,478) (4,288,084)
Proceeds on disposal of oil &
gas properties............. 262,070 494,100 850,070 534,799
Investments................... 0 400,000 (250,000) 400,000
Site restoration costs........ 0 (146) 0 (316)
------------ ------------ ------------- ------------
(594,933) (3,375,778) (15,374,408) (3,353,601)
Increase (decrease) in cash..... 800 (90,449) (39,553) (154,833)
------------ ------------ ------------- ------------
Cash, beginning of period....... 1,935 9,455 42,288 73,839
------------ ------------ ------------- ------------
Cash, end of period............. $ 2,735 $ (80,994) $ 2,735 $ (80,994)
============ ============ ============= ============
</TABLE>
