GREY:AVNDF - Post by User
Comment by
okaynowon Mar 08, 2012 3:53pm
298 Views
Post# 19645653
RE: RE: 2% gas ?
RE: RE: 2% gas ? excerpt from Q3 financial report
"2011 capital expenditure projections have been increased to approximately $40.1 million from $34.0 million largely as a result of third quarter crown land purchases and seismic on a Slave Point and Gilwood play in NW Alberta. The 2011 capital program continues to be focused over 90% on oil related projects while inventorying natural gas projects for the future. Pembina Cardium projects were tied in by mid-October and should contribute additional oil volumes for the fourth quarter. Capital expenditure spending in the fourth quarter will be largely directed to winter access drilling later in the quarter and will not add additional volumes until into Q1 2012. Accordingly production is now expected to average 4,800 to 5,000 BOED for the balance of the year with a production mix closer to a 50%/50% oil and natural gas liquids to natural gas split by year end 2011."