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Leucrotta Exploration First Quarter 2016 Results
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Leucrotta Exploration Inc. has reported its financial and operating results for the three months and year ended December 31, 2015.
All dollar figures are Canadian dollars unless otherwise noted.
Highlights: Maintained a cash and working capital balance of $45.6 million at December 31, 2015 Successfully drilled and completed three horizontal wells targeting the Lower Montney Turbidite play resulting in two liquids-rich natural gas wells and one light oil well Acquired an additional 10 net sections in the Montney play adjacent to recent successful drilling by the Company in the Greater Dawson-Doe area of Northeast BC Reduced pipeline commitments by $50.0 million to increase financial and capital flexibilityLeucrotta commenced active oil and natural gas operations on August 6, 2014 as a…
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