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Bengal Pauses Drilling Ops in 4Q; Reserves Increase to 6,204 MBbls
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Bengal Energy Ltd. announces its financial and operating results for the fourth quarter and the fiscal year ended March 31, 2016.
Chayan Chakrabarty, Bengal's President and CEO, said: "In Fiscal 2016, Bengal continued to focus on growing reserves, reducing costs and improving financial flexibility. Operationally and financially, I am pleased with the progress Bengal made over the past year, despite the challenging commodity price environment. We continued to further develop and grow our asset base, while maintaining our focus on delivering long-term value for our shareholders. We remain confident in the high quality of our asset base and our ability to continue to grow the size and value of our reserves base".
Fiscal Year-End and 4Q Highlights:During the 2016 fiscal year Bengal undertook…
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