Winstar Resources Reverses Early Decline; Reports Record Oil & Gas Production in Nov., Dec.

Winstar Resources Ltd (WIX.TO) turned around a 7-cent dip soon after the bell and is now again trading at even for the session at $3.00 a share following the oil and gas company reporting record production during November and December, selling an average 1,983 barrels of oil equivalent per day last month and an average 2,512 barrels through the first 20 days of December.

Winstar also approved a $62 million capital budget for 2012 and said Chief Financial Officer Bradley Giblin is resigning to pursue other business opportunities. Giblin has agreed to stay with the company for up to four months while Winstar hires and trains a replacement.

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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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