09:42 AM EST - Bellamont Exploration Ltd. : reported first-quarter net loss and comprehensive loss of $1.38 million or $0.03 per share, compared to net loss and comprehensive loss of $286,000 or $0.01 per share last year. Funds generated from operations declined to $359,000 or $0.01 per share from $778,000 or $0.02 per share in the prior year. Petroleum and natural gas sales increased to $2.25 million from $1.97 million in the comparable period a year ago. In 2009, the Corporation plans to spend $7.0 million of capital. The company also expects 2009 average production of 825 Boe/d and a year-end exit of 900 Boe/d. This is an increase of over 70 per cent over 2008 average production of 475 Boe/d. Bellamont Exploration Ltd.
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