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Raging River Up 3.2%, Nearing Yr High, TSXV Most Active; Raises Production Guidance

Raging River Exploration (RRX.V) is up 12 cents (3.26^) late morning to trade at $3.80, just 6 cents shy off a yr high.

RRX yesterday announced its financial results for 2012.

FOURTH QUARTER 2012 HIGHLIGHTS

- Achieved another quarterly production record with average production of 3,130 boe/d (97% oil) representing a quarterly increase of 47% from the third quarter of 2012.

- The Company spent $26 million on development activities and $41 million on acquisitions. 28 gross (23.9 net) Viking horizontal oil wells were drilled at 100% success. The Company also drilled a stratigraphic test well that was abandoned once core and log data were received.

- Attained record funds flow from operations of $15 million an increase of 47% from the third quarter 2012 funds flow of $10.3 million.

- Maintained our top decile corporate netback of in excess of $52/boe.

- Closed the previously announced property and corporate acquisitions that added 700 boe/d (90% oil) of production in December 2012.

-Completed a $68.9 million equity financing by issuing 26 million common shares at a price of $2.65 per common share.

Previous production guidance for 2013 of 4,600 boe/d was achieved in February setting the stage for continued outperformance of the Company's budget. Based on field receipts to date first quarter production is anticipated to be approximately 4,500 boepd.

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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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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