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UPDATE: Artek Almost Hits 52-Week Highs As Reports Significant 2012 Reserves Growth

Artek Exploration Ltd. (RTK.TO) announced the results of its independent reserve evaluation for the year ended December 31, 2012.

The report showed increased Proved plus Probable reserves year over year by 30% to 29.6 million boe from 22.9 million boe or 34% after the sale of 0.7 million boe at Leduc Woodbend in January 2012 and Proved reserves increased by 33% to 17.1 million boe from 12.9 million boe.

RTK touched a day high of $3.60, just 2 cents below 52-week highs. It is currently trading at $3.51.

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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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