UPDATE: TriOil Resources Up More Than 1% As Increases Production By 80% YoY To Hit Exit Target, Provides Ops Update

By Midnight Trader,  January 14, 2013, 10:02:35 AM EDT

TriOil Resources Ltd. (TOL.V) announced that its year-end exit production exceeded 3,450 boe/d (70% oil and liquids) based on field estimates, in line with its 3,400-3,600 boepd guidance. It said: "We achieved strong production growth in 2012, entirely through the drill bit, with corporate production up 80% from our 1,900 boepd 2011 exit production rate. Current production exceeds 3,600 boepd (70% oil and liquids) based on field estimates and our 2013 light oil development programs at Lochend and Kaybob are off to active and encouraging starts to the year. We are planning to provide details of our 2013 capital plan and guidance together with a detailed operational overview in early February, 2013."

In the interim, it provided an operations update.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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