Petrobank Announces 2011 Reserves

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Petrobank Energy and Resources Ltd. (PBG.TO) that was just 4 cents above 20-day SMA at yesterday's close announced today its year end 2011 reserves evaluation.

Highlights:

- THAI( R ) proved reserves for the Kerrobert project have been adjusted to zero. Additionally, proved plus probable ("2P") reserves at Kerrobert were adjusted to 3.6 million barrels.

- THAI( R ) proved plus probable plus possible reserves recognized for the Kerrobert project are unchanged at 8.5 million barrels.

- PetroBakken's 2P reserves increased by 19% to 203.5 million barrels of oil equivalent at December 31, 2011, replacing 2011 production by 315%.



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This article appears in: Investing , Commodities

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