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Angle Energy Zooms In on Cardium for 2013
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Angle Energy Inc. has reported the following activity updates and corporate information.
Highlights: Angle drilled and rig released 10 gross (8.3 net) horizontal wells in the fourth quarter of 2012, with 6 gross (4.3 net) wells targeting Cardium light oil, with a 100% success rate. Currently, Angle has 3 gross (2.5 net) horizontal wells in completion operations or awaiting completion. Due to Angle''s oil weighting in the fourth quarter of 2012, it is anticipated that quarterly cash flow will be in the guided range of approximately $25 - $26 million (estimated and unaudited). The previously announced Edson gas asset disposition has closed for gross proceeds of $74 million, reducing Angle''s bank debt to approximately $100 million and enhancing Angle''s capital focus on our expansive…- ✓ Full news archive — U.S., Canada & international coverage
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