PetroBakken Up 9% As Sees 15% Production Growth in 2012; Heavily Traded Today

PetroBakken Energy Ltd. (PBN.TO) enjoyed sharp gains today of nearly 9% after seeing heavy trading, as it announce that it expects to see 2012 production grow 15%.

The shares of the oil and gas producer went up to $10.87 in the afternoon by almost 9% from yesterday's $9.99 close, with 1.3 million shares that have already changed hands, after the company said that it expects to produce between 50,000 and 54,000 barrels of oil equivalent per day next year, mostly from its operations in the Bakken and Cardium light oil plays of Saskatchewan and Alberta.

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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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