BERRY PETE CO
			Symbol			BRY

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Berry Petroleum Announces Results for Third Quarter of 2009

2009-10-30 07:41 ET - News Release

Company Website: http://www.bry.com
DENVER -- (Business Wire)

Berry Petroleum Company (NYSE:BRY) reported net income of $19 million, or $0.41 per diluted share, for the third quarter of 2009, compared to net income of $53.3 million, or $1.16 per diluted share in the third quarter of 2008, according to Robert F. Heinemann, president and chief executive officer. Discretionary cash flow for the third quarter totaled $60 million. (Discretionary cash flow is a non-GAAP measure; see reconciliation below.)

Items that affected net income for the quarter included a non-cash gain on hedges, the write-off of certain costs related to the Company’s credit facility, a net gain on asset sales, and inventoried volumes from Poso Creek that were sold in the third quarter. In total, for the third quarter of 2009, these items increased net income by approximately $3.3 million, or $0.07 per diluted share for an adjusted third quarter net income of $15.7 million, or $0.34 per diluted share.

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