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UPDATE: Petrobank Deepens Loss in December Quarter; Stock Hits New 52-Week Lows

Petrobank Energy and Resources Ltd. (PBG.TO) recorded a net loss of $155.8 million, or $1.60 per share, for the quarter ending December 31, 2012. This compares to last year's net loss of $59.5 million, or $0.61 per share.

Fourth quarter 2012 production averaged 307 barrels of oil per day, a small increase from third quarter 2012 production of 305 bopd and an increase from 41 bopd in the fourth quarter of 2011.

PBG has hit a new 52-week low of 66 cents today. It is currently trading at 67 cents, with volumes of over 528,000.

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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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