Exhibit 99.1
     
(CRUSADER ENERGY GROUP INC.)
  For Immediate Release

For Further Information Contact:
Roy A. Fletcher, Investor Relations
Crusader Energy Group Inc.
(405) 241-1847
CRUSADER ENERGY GROUP THIRD QUARTER 2008 FINANCIAL UPDATE
OKLAHOMA CITY, OKLAHOMA, November 10, 2008:
Crusader Energy Group Inc. (AMEX:KRU) today reports financial results for the third quarter of 2008. For operational results for the third quarter of 2008, Crusader issued a press release on November 6, 2008. Crusader’s results include the activity of the Westside Transaction for the three months ended September 30, 2008. Crusader’s results for the nine months ended September 30, 2008 include the operations of Knight Energy Group, LLC for the complete period and ninety-six days of activity (June 27, 2008 through September 30, 2008) of the acquired parties (see Westside Transaction below). Certain pro-forma information has been presented as if the acquisitions had occurred on January 1, 2007. Reconciliations of the non-GAAP measures of EBITDA, adjusted EBITDA, pro-forma EBITDA, pro-forma adjusted EBITDA and adjusted earnings per share are presented in Exhibits C and D. Analysts and investors regularly use these or similar metrics when comparing to other oil and gas companies.
FINANCIAL HIGHLIGHTS
  Net income of $16.4 million for the third quarter of 2008 as compared to net income of $3.6 million for the third quarter of 2007
  Net income (loss) per share of $.08 and $(0.77) for the three and nine months ended September 30, 2008, respectively
  Adjusted earnings per share of $.02 and $.11 for the three and nine months ended September 30, 2008, respectively
  Adjusted EBITDA increased 164% in the third quarter of 2008 to $25.5 million as compared to $9.6 million in the third quarter of 2007
  Pro-Forma adjusted EBITDA increased 182% in the third quarter of 2008 to $25.5 million as compared to $9.0 million in the third quarter of 2007
  Adjusted EBITDA increased 143% in the nine months ended September 30, 2008 to $57.0 million as compared to $23.5 million in the nine months ended September 30, 2007
  Pro-Forma adjusted EBITDA increased 152% in the nine months ended September 30, 2008 to $68.0 million as compared to $27.0 million in the nine months ended September 30, 2007
  The Company has significant oil and gas hedges in place to mitigate a portion of the effect of a prolonged downturn of oil and gas prices:
Natural Gas Production
                                                                 
            Collars   Swaps   Puts
Year   Month   MCF   Floor   Ceiling   MCF       MCF   Floor
2008
  Oct - Dec     937,000     $ 8.10     $ 10.58       30,000     $ 7.45       45,450     $ 8.00  
2009
  Jan - Mar     678,500     $ 8.13     $ 10.12           $       259,131     $ 8.00  
2009
  Apr - Jun     441,000     $ 8.00     $ 9.56           $       259,131     $ 8.00  
2009
  Jul - Dec     882,000     $ 8.00     $ 9.56           $       518,262     $ 8.00  
2010
  Jan - Dec         $     $           $       2,144,988     $ 8.00  

 


The following information was filed by Crusader Energy Group Inc. on Monday, November 10, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Crusader Energy Group Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Crusader Energy Group Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account