09:53 AM EST - Crocotta Energy Inc. : announced 2014 Guidance. Crocotta has approved a budget that entails spending approximately $110 million in 2014 with the focus on Cardium oil at Edson, Bluesky liquids-rich gas at Edson, and Montney liquids-rich gas at Dawson. The budget will be spent approximately 45% in the first half of the year and 55% in the second half and be flexible to allow Crocotta to maintain its strong financial position. Crocotta estimates average 2014 production to be 10,000 boepd (27% oil and natural gas liquids and 73% natural gas) with exit 2014 production of 11,000 - 11,500 boepd. Crocotta estimates Q114 will be approximately 9,400 boepd with Q214 averaging approximately 10,000 boepd. Q114 average production is affected by the temporary shut-in of a Montney well at Dawson and a Cardium well at Edson. Both wells are anticipated to be back on production by early February. Crocotta Energy Inc.
shares T.CTA are trading unchanged at $2.92.
