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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Transeuro Energy Boosts Beaver River Gas Production In December 0 comments
    Jan 11, 2013 5:09 PM

    Transeuro Energy (CVE:TSU) has revealed it boosted gas production at its Beaver River field in Canada in December.

    Production was hit in November, averaging just 26,074 cubic metres per day due to temporary throughput restrictions at the Fort Nelson processing plant.

    And in the first 10 days of December, production was also reduced due to high pipeline pressures after the November plant shutdown that had constrained the field compressors but has since returned to normal.

    Even still, gas production lifted to 42,418 cubic metres per day last month, not far behind the 51,350 cubic metres produced in October when there were no interferences.

    The primary goal at the Beaver River field is to further develop existing subsistence-level gas production and establish the field as an economic operation.

    Shares soared 40% higher to C$0.035 on the news.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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