Bonterra Energy Corp Approves 2010 Capital Expenditure Program Budgeted at $65M

Bonterra Energy Corp. (BNE.TO), which lost 3% on Monday, announced its Board of Directors has approved a 2012 capital expenditure program budgeted at $65 million which targets production growth of approximately 10% in 2012.

Bonterra said in 2011 it maintained its focus on providing investors with continued growth on a per share basis, a sustainable pace of development and monthly income through its dividend policy. The company added it will continue to follow this corporate strategy in 2012 by mainly pursuing the development of its horizontal drilling program on its significant Cardium light oil play that will consist of an aggressive multi-well horizontal drilling program in the main Pembina Cardium pool.

Bonterra currently estimates that it has a 15 year drilling inventory predominantly in the Pembina and Willesden Green Cardium pools that will allow the Company to sustain its current business model.

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

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