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UPDATE: Tourmaline Oil Updates Exit Volumes, Reaffirms 2013 Guidance; Stocks Up Slightly

Tourmaline Oil Corp. (TOU.TO) expects to exit 2012 at 70,000 boepd, an increase from previous exit guidance of 63,000-65,000 boepd.

The company currently expects to average 75,000 boepd in 2013, representing approximately 50% growth over 2012 expected average production of between 50,000 and 51,000 boepd.

Full year 2013 EP capital spending guidance remains at $650 million and the debt to cash flow ratio will be maintained at less than 1 times.

TOU edged up by 7 cents to $30.73 in moving closer to year high $34.08. Volume traded is over 12,000.

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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