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Tamarack Outperforms Cardium, Viking Oil Averages
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Tamarack Valley Energy Ltd. has filed its audited condensed consolidated financial statements for the year ended December 31, 2012 and management's discussion and analysis (MD&A) on SEDAR.
Year-End 2012 ResultsTamarack is pleased to announce its fourth quarter financial and operational highlights as follows:
Production increased by 103% to 2,166 boe/d in 2012 from 1,069 boe/d in 2011. Production guidance for 2012 was achieved while maintaining the Company's initial capital expenditure guidance. Crude oil and natural gas liquids production weighting increased to 51% in Q4/12from 49% in Q3/12. Funds from operations were $6.03 million for Q4/12 and $16.67 million for the year ended 2012 compared to $2.89 million and $8.85 million for the same periods in 2011. Operating netbacks…
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