UPDATE: Petrobank Still in the Green As Provides 2012 Strategy and Capital Plan

Petrobank Energy and Resources Ltd. (PBG.TO) is still in the positive territory, and is now 4% higher at $9.14 compared to yesterday's $8.77 close after announcing this morning its 2012 strategic objectives and capital plan.

The company said that in 2012, it will focus on the Kerrobert project to increase production and bring the project to commerciality. Its 2012 capital expenditures are expected to be approximately $34 million, with approximately half the capital plan considered to be discretionary.

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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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