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UPDATE: Toscana Energy Announces Fiscal Year 2012 Financial and Operating Results and 2012 Reserves; Shares Up 2%

Toscana Energy Income Corporation (TEI.V) announced financial and operating results for the year ended December 31, 2012, and the corporation's 2012 year-end reserves. Reserves Summary: total proved plus probable reserves increased by 38% in fiscal 2012 to 7,854 Mboe. Proved reserves increased by 24% to 5,716 Mboe and comprised 73% of total proved plus probable reserves. Proved undeveloped reserves are 4% of the total proved reserves; the future capital in the Reserve Report (undiscounted) is $6.96 million for the proved and probable reserves and is $4.72 million for total proved reserves.

TEI was up nearly 2% to $15, trading close to 52-week high $20.

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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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